Zhitong Financial APP News, Beijing Construction (00925) issued a notice that the company is not a wholly-owned subsidiary of China Industrial Real Estate (planned to be in Beijiao, so it is publicly listed for sale of SSinolog (Taicang) III Pte. Ltd. (TCIII), SSinolog (Taicang) IV Pte. Ltd. (TCIV), SSinolog (Changshu) I Pte. Ltd. (CS) and SSinolog (Wuzhong) I Pte. Ltd. (WZ, together with TCIII, TCIV and CS, collectively referred to as the target company) the total issued share capital of each of them is 75%.
The company expects that the proposed disposal will generate substantial cash revenue for the Group, which can be used to reduce the amount of outstanding loans of the Group, thereby reducing financial expenses and enhancing the profitability of the Group in the foreseeable future.