Guangdong Hong Kong Bay Holdings (01396) announced that on November 15, 2023, the company was indirectly wholly owned by Shenzhen Yide...
According to the Zhitong Finance App, Guangdong Hong Kong Bay Holdings (01396) announced that on November 15, 2023, Shenzhen Yide Investment Management Co., Ltd., an indirect wholly owned subsidiary of the company, plans to sell all shares of Shenzhen Jingzhen Real Estate Co., Ltd. to Shenzhen Hongzhan Investment Co., Ltd. at a cost of RMB 52 million.
As of the date of this announcement, the target companies were wholly indirect subsidiaries of the Company and wholly-owned subsidiaries of the seller. Target Group is mainly engaged in property management and commercial management services, and has a number of commercial property management projects and residential property management projects in China.
The directors believed that the sale would help the Group to realise its investment in the target group and help improve the group's overall financial position.