Core Viewpoint - The company, Huazhong City (01668), has entered into two equity transfer agreements to sell 100% stakes in two project companies in Harbin, China, for a total consideration of RMB 2.17 billion, which will be used to repay financing costs and for general operational purposes [1][2]. Group 1 - The seller, Harbin Huazhong City Co., Ltd., a wholly-owned subsidiary of the company, has signed Agreement A to transfer 100% of Project Company A (Heilongjiang Wanbang Jiyie Real Estate Development Co., Ltd.) for RMB 72 million [1]. - The seller has also signed Agreement B to transfer 100% of Project Company B (Heilongjiang Dingrong Real Estate Development Co., Ltd.) for RMB 145 million [1]. - Asset A, part of the 1668 Industrial Park Project, has a planned land area of 13,000 square meters and a total construction area of 8,700 square meters [1]. - Asset B, known as the Boutique D District Project, has a planned land area of 118,000 square meters and a total construction area of 151,700 square meters [1]. Group 2 - The liquidation team believes that the asset transfer aligns with the seller's business of developing commercial and industrial properties in Harbin, China [2]. - The sale of these properties is expected to provide critical cash flow for the company's domestic subsidiaries to continue operations [2]. - The terms of the equity transfer agreements are considered fair and reasonable, in line with general commercial terms, and are in the company's best interest [2].
华南城附属与哈尔滨广麦房地产订立股权转让协议