Huaxiangnian Holdings (01777. HK) continued to sell assets and recover funds.
On January 31, huashinian holdings announced that on January 29, Chengdu Leyu Real Estate Co., Ltd., an indirect wholly-owned subsidiary of the company, as the seller and the target company, Guangzhou Yunjia Economic Information Consulting Co., Ltd., signed an agreement with Foshan Honghui Real Estate Development Co., Ltd., Yuexiu shareholder and Guangzhou urban construction Development Co., Ltd., the buyer, to sell 41% of the equity of the target company to huashinian, The total cost is about 200 million yuan.
According to the announcement, huashinian sold sales shares and loans to buyers. The sale shares are 41% of the registered capital of the target company, and the sale loan is the shareholder loan provided by the seller to the target company. On the date of the agreement, the amount is 72055700 yuan, including the principal amount of 63139400 yuan and its interest.
Upon completion, huashinian will no longer have any interests in the companies of the target group.
In terms of payment, 70% of the consideration, about 140 million yuan, shall be paid within 7 business days from the signing of the agreement; And 60 million yuan (i.e. the balance of the consideration) will be paid within 7 business days from the completion of the registration of the transfer of the sale shares with the administrative department for Industry and commerce.
According to the announcement, huashinian holds 90% of the equity of the subsidiary, while the subsidiary holds 90% of the equity of the project company, and Guangzhou urban construction development holds the remaining 10% of the equity of the project company. The project company holds a plot of land located in Yubei District, Chongqing, with a total area of about 81827 square meters. The plot can be used for the development of residential, commercial properties and office buildings.
According to the financial data of the project company, as of June 30, 2021, the company’s unaudited net asset value was about 411 million yuan, with a loss of 310000 yuan before and after tax.
Huashinian Holdings said it expected to lose about 5 million yuan after the sale of the asset.
According to tianyancha data, Guangzhou Yunjia Economic Information Consulting Co., Ltd. has three shareholders, namely Chongqing Biaozhi Enterprise Management Co., Ltd., Chengdu Leyu real estate and Hangzhou Yile Industrial Investment Co., Ltd., with shareholding ratios of 42%, 41% and 17% respectively. According to the equity information, the actual controller of Chongqing Biaozhi Enterprise Management Co., Ltd. is Guangdong hailunburg Real Estate Co., Ltd., while the final actual controller of Hangzhou Yile Industrial Investment Co., Ltd. is Guangzhou urban construction and Development Co., Ltd.
According to the sales data previously disclosed by huashinian holdings, by the end of December 2021, the cumulative sales of huashinian holdings was 46.594 billion yuan, the corresponding sold building area was about 29794 square meters, and the average selling price was 15637 yuan / square meter.
The contract sales of huashinian holdings in 2020 were 49.207 billion yuan, compared with a decrease of 5.3% in 2021.
As of the time of publication, the company reported a gain of 1.61% to HK $0.315 per share.
