On December 23, Shenzhen Properties & Resources Development (Group) Ltd(000011) announced that in order to effectively improve the overall market competitiveness of the property management sector, build a benchmark property management platform in Shenzhen, further expand and strengthen the company’s property management business and enhance the development potential of listed companies, ITC property, a wholly-owned subsidiary of the company, plans to acquire 100% equity of Shenzhen Foreign Trade Property Management Co., Ltd. (hereinafter referred to as “foreign trade property”) held by China Shenzhen Foreign Trade (Group) Co., Ltd. (hereinafter referred to as “foreign trade group”) in cash. As of the benchmark date of June 30, 2021, through audit, the total assets of foreign trade properties are 59.9122 million yuan, the total liabilities are 47.9916 million yuan, and the total net assets are 11.9206 million yuan. The equity transfer price is RMB 20.8988 million.
The announcement shows that after the completion of this transaction, the foreign trade property will be incorporated into the consolidated statement of international trade property as a wholly-owned subsidiary of the company’s property management platform, and the main business scale and market share of the company’s property management sector will be further improved. At present, the property under management of foreign trade property is relatively stable without frequent changes. After the acquisition, it will further enhance the overall competitiveness of the company and enhance the sustainable development ability of the property management sector of the company.
(China Securities Journal · China Securities Network)
