Jinwu Financial News | China Aoyuan (03883) was pressured and temporarily reported at HK$0.24, down 7.69%, with a turnover of HK$5.587 million. The stock closed up 44% yesterday, with a cumulative increase of more than 100% over the previous three days.
According to the news, China Aoyuan announced that on May 13, 2024, after signing the letter of intent, the seller Aoyuan Property Holdings (Canada) Ltd (a wholly-owned subsidiary of the company) entered into the agreement with the buyer Winnet Capital Ltd. According to this, the seller conditionally agreed to sell and the buyer conditionally agreed to purchase all of the issued shares in each share category of the target company Ontario Aoyuan Property Limited. The total cost was 68 million plus yuan.
The target company is a limited company incorporated under the laws of Ontario, Canada. It is mainly engaged in investment holdings, and its main assets are M2M projects.