Zhitong Financial APP, Cinda Real Estate (600657.SH) issued an announcement that the company's wholly-owned subsidiary Cinda Chongqing Real Estate Development Co., Ltd. (hereinafter referred to as "Cinda Chongqing Real Estate") and the company's related party China Cinda Asset Management Co., Ltd. (hereinafter referred to as "China Cinda") jointly participated in the subscription of Wuhu Qinjing equity investment partnership (limited partnership) (hereinafter referred to as "partnership") share. The total subscription scale of the partnership is 1.002 billion yuan, of which Cinda Chongqing real estate subscribed 300 million yuan, and carried out joint development and construction of the project. Among them, China Cinda is the controlling shareholder of the company's controlling shareholder, and this joint investment constitutes a related party transaction.
The company said that the purpose of this investment is to give full play to the advantages of coordinated development of business, enhance the value of assets, and at the same time resolve the liquidity risks of local real estate enterprises, ensure delivery and stabilize people's livelihood. The transaction follows the principle of fair, just and reasonable pricing, and there is no harm to the interests of the company and minority shareholders.