Summary by Moomoo AI
On 23 March 2024, Country Garden signed a cooperation agreement with Guangdong Central and its project companies to jointly develop commercial, tourism and entertainment properties in Guangzhou. The property's land use rights are due to expire in 2057 and 2067. Guangzhou Xingsheng Si (an indirect non-wholly owned subsidiary of Country Garden) has provided RMB 31 billion to the project company, and Guangdong will provide approximately RMB 28 billion. The cooperation agreement includes Guangdong acquiring a 1% stake in the project company and a subsequent 94% shareholding in the project company, with the eventual acquisition of a 100% shareholding. In addition, the two parties reached a supplemental agreement on the potential impact of the collateral on the performance of the cooperation agreement. According to the Listing Rules, this...Show More