Xinyuan Service (01895) announced that according to the vehicle agreement between Xinyuan Real Estate Holdings and the company on September 17, 2020...
Zhitong Finance App News, Xinyuan Service (01895) announced that according to the exclusive parking space sales cooperation agreement between Xinyuan Real Estate Holdings and the company on September 17, 2020, as a security deposit for Xinyuan Real Estate Group's exclusive sales partner for target parking spaces and holding exclusive sales rights for relevant target parking spaces, the group has paid Xinyuan Real Estate Group a refundable cooperation fund of about RMB 207 million.
As of the date of this announcement, Xinyuan Real Estate Holdings should refund to the company the outstanding cooperation deposit of approximately RMB 197.6 million. In order to settle the outstanding goodwill of cooperation, on March 22, 2024, the company entered into an agreement with Xinyuan Real Estate Holdings (cancellation agreement). According to this, the contracting parties agreed that all cash sales proceeds (such as sales) of 2,181 parking spaces owned by Xinyuan Real Estate Group and currently managed by the group or sold by the group on behalf of Xinyuan Real Estate Group will be retained by the group and used to settle an equal amount of the outstanding goodwill of cooperation. For the avoidance of doubt, the group will not take ownership of the parking spaces under the offsetting agreement. If the proceeds from the sale are insufficient to settle all outstanding cooperation funds, Xinyuan Real Estate Holdings will pay the missing portion to the company in cash within 10 working days after the sale of all parking spaces is completed. If the proceeds from the sale exceed the outstanding goodwill amount, the excess will be retained by the company.
According to reports, the parking spaces owned by Xinyuan Real Estate Group include 355 parking spaces located in the Xinyuan Duhui Plaza Project in Erqi District of Zhengzhou City, China within the Group's property management area; and 1,826 parking spaces in residential properties developed by Xinyuan Real Estate Group in several Chinese cities currently sold by the group's Dai Xinyuan Real Estate Group within the group's property management area.