Beijing Construction (00925) announced that on December 13, 2023, China Industrial Real Estate (as a seller)...
According to the Zhitong Finance App, Beijing Construction (00925) announced that on December 13, 2023, China Industrial Real Estate (as seller), WXYZGEM (BVI) Holdings Limited (buyer), Jiaxing (as target company) and Baodi (as project company) signed a share trading agreement on the sale of 75% of Jiaxing's issued share capital (sales shares).
After completing potential sales matters relating to the sale of shares, Jiaxing and Baodi will no longer be subsidiaries of the company, and the financial results of Jiaxing Group will not be consolidated into the group's financial statements
As of the date of this announcement, the buyer has paid and the seller has received a total deposit of RMB 16.71 million. This amount will be used as part of the payment of the final price.
According to reports, the buyer is a limited company incorporated in the British Virgin Islands and an indirect wholly-owned subsidiary of Gaolu Logistics Holdings Limited, beneficially owned by Hillhouse FundV, L.P., Hillhouse RealAsset Investment Fund, L.P., and Hillhouse RAOF PartnersL.P. (collectively, “such funds”). The manager of these funds is Hillhouse Investment Management Ltd., a limited company incorporated under the laws of the Cayman Islands.