Financial street sells Huizhou Sheraton in related-party deal

Financial Street Holdings (SZSE:000402) announced progress on the sale of the Huizhou Sheraton Hotel, held by its subsidiary Financial Street Huizhou Real Estate, to Beijing Jinhao Real Estate Development, a related party. The total transaction price is RMB 275,555,500, based on an approved asset valuation. Per the agreement signed on February 28, 2025, 50% of the payment is due within five working days of receiving the VAT invoice, 40% within five working days of the asset transfer completion, and the remaining 10% will be settled after the special industry permits have been issued. The company stated that the transaction is in line with its business development needs.