Cinda Real Estate: Shareholder structure change progresses

Cinda Real Estate (SSE: 600657) announced that the proposed transfer of shares in its controlling shareholder, China Cinda Asset Management, is progressing. The Ministry of Finance intends to transfer its entire stake in China Cinda to Central Huijin Investment. If approved, Central Huijin will hold 58% of China Cinda. This will change Cinda Real Estate's ultimate controller from the Ministry of Finance to Central Huijin Investment. Cinda Investment, a wholly-owned subsidiary of China Cinda, currently holds 1,552,939,583 shares of Cinda Real Estate, representing 54.45% of its total share capital. The transfer is subject to regulatory approval, and further announcements will be made as the situation develops.