Brief: C&D International Investment Announces Formation Of JV In Relation To Land In Dongguan

C&D International Investment

11/09/2023 16:31

Sept 11 (Reuters) - C&D International Investment Group
Ltd  1908.HK :
    * FORMATION OF JOINT VENTURE IN RELATION TO LAND IN DONGGUAN
    * XIAMEN HONGYAOYI AND SHENZHEN LIANYUE ENTERED INTO
COOPERATION
AGREEMENT
    * XIAMEN HONGYAOYI AGREED TO SELL 30% EQUITY INTEREST IN
DONGGUAN
ZHAOXI
    * INITIAL REGISTERED CAPITAL OF DONGGUAN ZHAOXI SHALL BE
RMB1.50
BILLION
    * TOTAL CAPITAL COMMITMENT BY XIAMEN HONGYAOYI TO DONGGUAN
ZHAOXI
EXPECTED TO BE RMB1.05 BILLION
    * CAPITAL COMMITMENT BY SHENZHEN LIANYUE TO DONGGUAN ZHAOXI
EXPECTED TO BE RMB450 MILLION
    * UPON COMPLETION, XIAMEN HONGYAOYI AND SHENZHEN LIANYUE
SHALL OWN
70% AND 30% EQUITY INTERESTS IN DONGGUAN ZHAOXI
    * DONGGUAN ZHAOXI WILL CONTINUE TO BE AN INDIRECT SUBSIDIARY
OF CO
    * XIAMEN HONGYAOYI TO SELL 30% STAKE IN DONGGUAN ZHAOXI TO
SHENZHEN LIANYUE TO DEVELOP LAND TOGETHER


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