On February 11, Shanghai Shimao Co.Ltd(600823) announced that in January 2022, Shanghai Shimao Co.Ltd(600823) sales contracted area was about 38000 square meters, and the sales contracted amount was about 550 million yuan.
In addition, in order to improve the capital turnover efficiency and operation and profitability of Shanghai Shimao Co.Ltd(600823) subsidiaries, according to the operating capital needs of subsidiaries, Shanghai Shimao Co.Ltd(600823) was approved to increase the financing limit of 1.8 billion yuan through financing pledge guarantee.
The announcement shows that Wuhu Shimao new development real estate Co., Ltd., a wholly-owned subsidiary of Shanghai Shimao Co.Ltd(600823) , plans to mortgage its property of about 46000 square meters to China Merchants Bank Co.Ltd(600036) and apply for loan financing of no more than 200 million yuan. Shanghai Shimao Co.Ltd(600823) provide pledge guarantee for the above loan financing matters and joint and several liability guarantee for the 100% equity of Wuhu Shimao new development.
Secondly, China Merchants Bank Co.Ltd(600036) signed a loan contract with Shanghai Shimao Co.Ltd(600823) wholly-owned subsidiary Shaoxing Shimao Investment Development Co., Ltd. in April 2017, providing a loan of 1.2 billion yuan. So far, the loan balance is 828 million yuan. Shaoxing Shimao investment plans to apply for additional loan financing on the basis of including the above loan balance of 828 million yuan, with a total financing amount of no more than 1.6 billion yuan. Shaoxing Shimao investment will provide mortgage guarantee for the financing matters with the property of Shaoxing Shimao Plaza held by it, Shanghai Shimao Co.Ltd(600823) will provide pledge guarantee for the above financing matters with 100% equity of Shaoxing Shimao Investment Development Co., Ltd., and provide full joint and several liability guarantee.
At the same time, Shanghai Shimao Co.Ltd(600823) holding subsidiary Hangzhou horui Real Estate Development Co., Ltd. raised no more than RMB 1.6 billion from CITIC Trust Co., Ltd. in September 2020, and Shanghai Shimao Construction Co., Ltd. provided full joint and several liability guarantee. So far, the financing balance is 919 million yuan. After negotiation with financial institutions, Shanghai Shimao Co.Ltd(600823) plans to add 100% equity of Hangzhou Herui held by Fuzhou Taihe Yongsheng Real Estate Co., Ltd., a holding subsidiary, as an additional guarantee for the above financing.
It is reported that the above guarantee matters still need to be considered by the general meeting of shareholders. Relevant guarantee procedures shall be completed within 2 months from the date of deliberation and approval by the general meeting of shareholders.
On the same day, Shanghai Shimao Co.Ltd(600823) announced that with the approval of the board of directors, Shanghai Shimao Co.Ltd(600823) appointed Mr. Yu Feng as vice president, chief financial officer and Secretary of the board of directors. Due to the needs of business development, Mr. Sun Yan, the former vice president and chief financial officer of the company, will no longer serve as the chief financial officer. As the vice president of the company, he is responsible for the internal audit and other businesses of the company. The job change of senior managers will not affect the normal operation of the company’s production, operation and management.
