Beijing Urban Construction acquires Xingsheng Real Estate equity
Beijing Urban Construction Investment & Development (SSE:600266) announced the completion of its acquisition of a 10% equity interest in Beijing Chengjian Xingsheng Real Estate Co., Ltd. from Beijing Huaisheng Urban Construction Development Co., Ltd. The acquisition, approved by the company's board in May, saw Beijing Urban Construction pay CNY 12,844,178.75 for the stake. In addition, Xingsheng Real Estate settled debts of CNY 113,164,142.49 to Huaisheng, through a combination of cash and real estate assets. The transaction, completed after obtaining regulatory approvals, results in Xingsheng Real Estate becoming a wholly-owned subsidiary of Beijing Urban Construction Investment & Development. At the time of evaluation, Xingsheng Real Estate had net assets of CNY 260,502,746.32 and a net asset valuation of CNY 12,844.18 million as of June 30, 2024.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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