Glonghui, March 8, 丨 Landsea Green Life (01965.HK) announced that on March 8, 2024, the Group will enter into a property transfer agreement with these Landsea Green Management Group member companies. According to this, Landsea Green Management Group will transfer the target property to the Group at a consideration of RMB 9.07 million to offset the payment by the unpaid amounts due to the Group by these Landsea Green Management Group member companies.
The target property is 2 office buildings and 6 parking spaces for the Landsea Tibetan Peak project developed and built by Landsea Green Management Group in 2011 in Putuo District, Shanghai, China, with a total construction area of about 784.05 square meters. The Landsea Tibetan Peak Project is one of the green quality office projects developed and built by Landsea Green Management Group. The project is located on Yunling East Road in Shanghai, close to Changfeng Park. The surrounding area is rich in supporting facilities and has good marketability.
The Group entered into a property transfer agreement with Landsea Green Management Group, which enabled the Group to recover the accounts receivable due and payable by such Landsea Green Management Group member companies. At the same time, the Board of Directors believes that the target property is marketable, and that the Group will be able to use the market information resources accumulated by the Group when providing property management services, community value-added services and value-added services for non-owners to find suitable third parties to sell or lease target properties from projects managed by the Group or customers in the open market. Such transactions not only help to enhance the diversity of services provided by the Group, but also mitigate the risk of the Group's accounts receivable, which is in the interests of the Group.