News summary
Sheraton Huizhou Hotel, a subsidiary of Financial Street, has a total of 27freetexasholdempokeronline, the evaluation price of 4.8905 million yuan was officially transferred to the related party Jinhao Companyfreetexasholdempokeronline, aims to withdraw funds and improve solvency. The transaction is expected to generate approximately-5% of the company's current net profit.freetexasholdempokeronline, impact of 9.31 million yuan.
Newsletter text
[Financial Street (000402.SZ) transferred the assets of Sheraton Huizhou Hotel to related parties at a price of 274.8905 million yuan][Jinhao Company took over the Sheraton Hotel to help Financial Street Group optimize its business] On May 24, Financial Street Group announced that it was decided by a board meeting that its subsidiary is specifically responsible for real estate businessfreetexasholdempokeronlineFinancial Street Huizhou Real Estate Co., Ltd.(hereinafter referred to as "Huizhou Real Estate"), a subsidiary of its subsidiary, transferred its Sheraton Huizhou Hotel to Beijing Jinhao Real Estate Development Co., Ltd.(hereinafter referred to as "Jinhao Company"). The transaction follows the asset appraisal value approved by the state-owned assets regulatory authority to ensure that the price is no lower than the approved RMB 274.8905 million. Sheraton Huizhou Hotel is located in Xunliao Town, Huidong County, Huizhou City. Since July 2006, the operation of the hotel has been entrusted to Sheraton Overseas Management Company. The hotel property has obtained a real estate title certificate and has no mortgage. After three years of negotiations, Financial Street negotiated with multiple groups of market customers on the transfer of the hotel, but none of them reached a clear purchase intention. In this transaction, Jinhao Company acquired Sheraton Huizhou Hotel at a fair market evaluation price based on development needs and after negotiation with Financial Street Group. This move will not only help avoid competition in the same industry, but will also promote the professional management of the group's business. After the completion of this transaction, Financial Street Group is expected to improve the efficiency of capital operations and enhance its solvency through capital withdrawal, although this transfer operation is expected to have an impact on the company's current net profit of approximately-59.31 million yuan.
