Huijing Holdings (09968) issued an announcement. On November 29, 2023, the company, seller Chen Jinxuan, and the guarantee...
According to the Zhitong Finance App, Huijing Holdings (09968) announced that on November 29, 2023, the company, seller Chen Jinxuan, and the guarantor entered into a share transfer agreement. The company has agreed to acquire target shares (that is, the remaining 40.82% of the target company Xiecheng Holdings) from the seller at a cost of RMB 26.5 million (equivalent to about HK$29.9012 million). Upon completion, the target company will become an indirect wholly owned subsidiary of the company.
As of the date of this announcement, the target company was 59.18% indirectly held by the company; and 40.82% was directly held by the seller. As of the date of this announcement, the target company holds 100% of the issued shares of Xiecheng Industrial Development, that is, 49% of Changming in Pinghu City (its owned projects). The 618 properties of the relevant projects have been sold and delivered to buyers. The remaining 4 units have been sold but have not yet been delivered, but Changming in Pinghu City will still be responsible for maintenance work within the next two years.
The board of directors believes that the acquisition will enable the group to obtain comprehensive decision-making and management rights relating to Changming in Pinghu City; conversely, the seller's sale of target shares to another party may cause uncertainty about shareholder dynamics.