News summary

[Financial Street: Selling Sheraton Huizhou Hotel, selling equity and creditor's rights in Jinmen Real Estate] Securities Times e Company News, Financial Street (000402) announced in the morning of May 24 that the company and its wholly-owned subsidiary Tianjin Real Estate intend to holdmillionairecasinonodepositbonusJinmen (Tianjin) Real Estate Co., Ltd.(referred to as "Tianjin")millionairecasinonodepositbonus...

Newsletter text

[Financial Street: Sell Sheraton Huizhou Hotel, sell equity and creditor's rights in Jinmen Real Estate] Securities Times e Company News, Financial Street (000402) announced on the morning of May 24 that the company and its wholly-owned subsidiary Tianjin Real Estate intend to transfer their 100% equity in Financial Street Jinmen (Tianjin) Real Estate Co., Ltd.(referred to as "Jinmen Real Estate") and all of the company's rights to Jinmen Real Estate to a related party Jinhao Company at a transfer price not less than the assessed value of the equity. This transfer will help withdraw funds, improve the company's asset turnover efficiency and solvency, and will have an impact on the company's current net profit attributable to the parent company by approximately-145 million yuan. In addition, Huizhou Real Estate, a controlling subsidiary of the company, plans to transfer its Sheraton Huizhou Hotel to a related party Jinhao Company. This transfer will have an impact on the company's current parent net profit of approximately-59.31 million yuan.