Dichen Development International (00262) announced that on August 7, 2023, Haikou Longhua District City Investment Holdings Co., Ltd. intends to acquire all shares of Jiangyu Real Estate (Hainan) Co., Ltd. and Hainan Fudi Business Management Co., Ltd., respectively from the company's indirect wholly-owned subsidiaries Jiangyu Limited and Fuhai Real Estate Investment Co., Ltd., the total consideration is RMB 385 million.
These target companies own target property 1 and target property 2 respectively, which are commercial properties located in luxury Court in Asia, with a total floor area of about 37383 square metres. Target property 2 has been held for the Group's interests under a contractual arrangement since 2022. The Group therefore has an interest in the consideration of the proposed sale of item 2.