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[Jiachuang Real Estate's wholly-owned subsidiary sells equityhandheldarcadegames, Focus on new resource development projects]
Jiachuang Real Estate revealed through an announcement that its indirect wholly-owned subsidiary Jiachuang Property Development Co., Ltd. had reached an agreement with the buyer on May 14, 2024 to sell the target companyhandheldarcadegamesAll issued equity in the company, with a total value of RMB 19.8 million.
The target company is the real estate development project company of Jiahui Haoting Phase 3 and holds legal ownership of the project. At present, all units in Jiahui Haoting Phase 3 have been sold out. Selling the equity of the target company will help optimize the corporate structure and reduce the group's management costs.
Jiachuang Real Estate said the sale will allow the group to reallocate resources and focus on developing the upcoming Jiahui Haoting Phases 4 and 5 and new projects in Hecheng Community in Gaoming District, Foshan City.
This transaction is expected to bring strategic advantages to Jiachuang Real Estate. By streamlining the structure and reallocating resources, the group will more effectively promote the development of future projects.