Financial Street property (01502.HK) announced that the company, through its subsidiary Beijing Financial Street first Pacific Davis property Management Co., Ltd. and its partners, has set up a joint venture company to achieve complementary advantages, mutual benefit and win-win results through the integration of resources of both sides, so as to better promote the healthy and rapid development of the enterprise.
According to the disclosure, Beijing Dingye Financial Street first Pacific Davis property Management Co., Ltd. (the "joint venture") has a registered capital of 5 million yuan (shareholders will be injected according to the proportion of equity). Among them, Beijing Financial Street first Pacific Davis property Management Co., Ltd. holds 51% and Beijing Hongyuan property Management Co., Ltd. holds 49%.