Summary by Moomoo AI
Country Garden Holdings Limited (“Country Garden”) issued a notice on 3 January 2024, supplementing its 14 December 2023 sale details. The transaction, priced at RMB30.69 million, was determined after fair consultation based on the industry outlook, operating nature of the target group, financial condition and market value. Country Garden has appointed independent professional valuers to evaluate the target shares, mainly using market law, taking into account the sustainability of the target company and the value of similar companies in the market. The valuation results showed that the fair value of the target shares was RMB370,000 (approximately US$4.56 million), taking into account market earnings, lack of market liquidity discounting and future dividends. The Board considers the valuation method to be fair and reasonable and has complied with the relevant agreements.