Download App

Log in to access Online Inquiry

Fineland Arm to Acquire 60% Stake in Guangdong Yikang; Closes 51% Stake Buy in Changsha JYH

MT Newswires ·  {{timeTz}}

09:49 PM EDT, 10/25/2021 (MT Newswires) -- Fineland Real Estate Services Group (HKG:9978) subsidiary Guangzhou Fangrun Living Services is acquiring a 60% stake in Guangdong Yikang Property Service for 34.4 million yuan ($5.4 million) in cash, according to a late Monday filing.

Investment holding firm Shanghai Lvbaoyuan Business Management Partnership is selling the equity interest in the Chinese property management services provider, the disclosure said.

Fineland expects the deal to boost its Greater Bay Area market-focused property management portfolio.

Guangzhou Fangrun also closed its purchase of a 51% stake in property management services provider Changsha Jiyanghong Property Management to boost its portfolio in Hunan province.

Guangzhou Fangrun paid 24.7 million yuan in cash for the firm, according to a previous disclosure from the real estate agency.

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal.

Moomoo is a financial information and trading app offered by Moomoo Techonologies Inc.

In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).

In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. ("Moomoo Financial SG") regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial SG is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.

In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites and Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.