Gelonghui, March 28 | Palm Co., Ltd. (002431.SZ) announced that in order to effectively revitalize the company's assets, adjust the asset structure, and reduce the company's financial expenses, the company plans to transfer 100% of its four wholly-owned subsidiaries, Guangzhou Palm Commercial Operation Management Co., Ltd. (“Palm Business”), Guangzhou Zongying Commercial Operation Management Co., Ltd. (“Zongfa Commercial”), and Chengdu Zongfa Commercial Operation Management Co., Ltd. (“Chengdu Zongfa Commercial”), Chengdu Zongfa Commercial Operation Management Co., Ltd. (“Chengdu Zongfa Commercial” for short), to the shareholders of Henan Province Guaranteed Housing Management and Operation Co., Ltd. (“Yuzi Guaranteed Housing” or “transferee” for short). According to the results of the equity evaluation report and agreement with the transferee, the transaction amount for the company to transfer the shares of the four wholly-owned subsidiaries is RMB 20,1153,000. All of the transfer price to be collected by the company will be used to settle part of the company's debt to the transferee. The loan amount is RMB 20,153 million, and the transferee does not need to pay any additional consideration for the transaction.
After the equity transfer is completed, the company will no longer hold shares in Palm Commercial, Zong Ying Commercial, Zong Fa Commercial, and Chengdu Brown Travel.