Securities code: 600791 securities abbreviation: Beih-Property Co.Ltd(600791) No.: Lin 2022-006 Beih-Property Co.Ltd(600791)
Announcement on foreign investment of joint venture project company
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents. Important content tips:
The project to be established by Beijing Longhu Investment Co., Ltd. (hereinafter referred to as “6001}”) and Beijing Longhu Investment Co., Ltd. (hereinafter referred to as “6001}).
Investment amount: the registered capital of the project company is 500 million yuan, and Jingneng real estate plans to contribute 255 million yuan in currency, accounting for 51%.
1、 Overview of foreign investment
(I) basic information of foreign investment
Beih-Property Co.Ltd(600791) set up a joint venture project company with Beijing Longhu to develop plot gzgjc-03 of shanty town reconstruction and environmental remediation project (phase I) in Guanzhuang Township, Chaoyang District, Beijing. The registered capital of the project company is 500 million yuan, of which: Beih-Property Co.Ltd(600791) contributes 255 million yuan, accounting for 51%; Beijing Longhu invested 245 million yuan, accounting for 49%.
(II) deliberations of the board of directors
The company held the 8th interim meeting of the 9th board of directors on February 11, 2022. The meeting approved the company’s proposal to establish a project company with Beijing Longhu Zhongbai Real Estate Co., Ltd. with 7 votes in favor, 0 abstention and 0 opposition.
This foreign investment does not need to be submitted to the general meeting of shareholders for deliberation.
(III) this foreign investment does not involve related party transactions, nor does it constitute a major asset reorganization.
2、 Basic information of partners
(I) Beijing Longhu, founded on October 24, 2007, is a limited liability company legally established and validly existing under the laws of China, with its legal address at the first floor of Building 1, north of No. 25, Banbidian street, Tongzhou District, Beijing; Legal representative: Chen Mingwei; Registration number: [91110000668400573p]; Registered capital of 150 million yuan: the main business scope is real estate development and sales of commercial houses; Investment management and asset management are 100% holding companies of Chongqing Longhu Real Estate Development Co., Ltd. Beijing Longhu is responsible for the development and operation of Longhu real estate Beijing regional project.
(II) there is no other relationship between Beijing Longhu and Beih-Property Co.Ltd(600791) in terms of property rights, business, assets, creditor’s rights and debts, personnel, etc.
(III) by the end of 2020, Beijing Longhu had total assets of 21.56 billion yuan, net assets of 5.28 billion yuan, operating income of 67.62 million yuan and net profit of 1.03 billion yuan.
3、 Basic information of investment object
This foreign investment is a joint venture with Beijing Longhu to establish a project company. The registered capital is 500 million yuan. The shareholding ratio of shareholders is Beih-Property Co.Ltd(600791) 51% and Beijing Longhu 49%. Business scope: Sales of self-developed commercial houses; Public parking service for motor vehicles; estate management; Renting commercial houses; Renting office space; business management; Public relations services; Undertake exhibition activities; Conference services; Cleaning services; Organize cultural and artistic exchange activities (excluding commercial performances); hotel management; Catering management; Real estate development and operation (subject to industrial and commercial registration).
4、 Main contents of foreign investment contract
(I) Beih-Property Co.Ltd(600791) and Beijing Longhu (hereinafter referred to as “both parties”) agree that the registered capital shall be paid in one time in the form of monetary contribution according to the shareholding ratio or by converting the creditor’s rights to the project company into paid in registered capital.
(II) both parties shall pay the land price and land transaction tax of the project plot in accordance with the transaction confirmation of the project plot and the contract for the transfer of state-owned construction land use right. (III) any dispute arising from or related to the cooperation agreement shall be settled by both parties through friendly negotiation. If the negotiation fails, either party shall submit the dispute to China International Economic and Trade Arbitration Commission for arbitration in Beijing in accordance with its then effective arbitration rules.
5、 The impact of foreign investment on Listed Companies
This foreign investment meets the strategic planning and business development needs of Beih-Property Co.Ltd(600791) and is conducive to improving the company’s sustainable profitability.
6、 Risk analysis of foreign investment
The project development may be affected by the national real estate policy, and there are still certain market risks, operation and management risks. Beih-Property Co.Ltd(600791) cooperate with Beijing Longhu to realize complementary advantages, so as to effectively control project risks.
It is hereby announced.
Beih-Property Co.Ltd(600791) board of directors February 12, 2022
