Gronghui May 24 丨 Financial Street (000402.SZ) announcedbestmobilecryptogames, according to the company's business development needs, and reviewed and approved at the 20th meeting of the 10th Board of Directors of the company, The board of directors agreed that the company and its wholly-owned subsidiary Financial Street (Tianjin) Real Estate Co., Ltd.(hereinafter referred to as "Tianjin Real Estate") will transfer 100% equity of Financial Street (Tianjin) Real Estate Co., Ltd.(hereinafter referred to as "Jinmen Real Estate") and all the company's creditor's rights on Jinmen Real Estate to the related party Beijing Jinhao Real Estate Development Co., Ltd.(hereinafter referred to as "Jinhao Company"), and sign the "Equity Transfer Agreement". The price of this equity transfer shall not be lower than the equity evaluation value, which shall be subject to the evaluation results approved by the state-owned assets regulatory authority; all creditor's rights transfer prices of the company to Jinmen Real Estate shall be paid according to the actual amount. Taking February 29, 2024 as the benchmark date for evaluation, the asset-based method was adopted for evaluation. The evaluation value of 100% equity of Jinmen Real Estate, the target of the transaction, was 23bestmobilecryptogames, 4.8288 million yuan.

It is reported that the Jinmen Real Estate Development Project is a Jinmen project that integrates St. Regis Hotel and Jinmen Apartment, of which Jinmen Apartment has been completed and delivered to the owner. At present, the main asset owned by Jinmen Real Estate is the St. Regis Hotel, which is located at No. 158 Zhang Zizhong Road, Heping District, Tianjin City. Since October 2011, St. Regis Tianjin has been entrusted to Sheraton Overseas Management Company for management. The hotel property has obtained a real estate certificate and a mortgage has been established. In December 2018, Jinmen Real Estate signed a property mortgage loan contract with China Merchants Bank Co., Ltd. Tianjin Branch.

The announcement shows that the company continues to promote the optimization of its self-sustaining property structure. In the past three years, the company has negotiated with multiple groups of market customers on the transfer of St. Regis Hotel under Jinmen Real Estate, but none of the customers have expressed a clear intention to purchase. Financial Street Group is a wholly-owned company, and Jinhao Company is the main management entity of its hotel business segment. According to business development needs, Jinhao Company negotiated with the company to acquire St. Regis Hotel at a fair assessed price, which will help it further implement professional management. After the completion of this transaction, the company will not have horizontal competition with Financial Street Group and Jinhao Company.

This time, the company transferred 100% equity of Jinmen Real Estate (its main asset is St. Regis Hotel) and related creditor's rights to Jinhao Company, which will help the company withdraw funds and improve the company's asset turnover efficiency and solvency. The impact of this transfer on the company's current net profit attributable to the parent company is approximately-144.6824 million yuan.