Opinion Index
Summary: Jinke Services and Jinke Group have entered into a final sale and purchase agreement to acquire the ownership or right-of-use assets of the nursery property, with the maximum consideration not exceeding approximately 271 million yuan.
Jinke Service related-party acquisition of nursery properties and related business companies, involving an investment of 314 million yuan
On June 30, Jinke Intelligent Service Group Co., Ltd. issued a memorandum of understanding on the proposed acquisition of related-party transactions.
According to the announcement, Jinke Services and Jinke Group entered into a final sale and purchase agreement for the acquisition of the ownership or right-of-use assets of the nursery property, with a maximum consideration of no more than approximately 271 million yuan; at the same time, it entered into a final sale and purchase agreement with Jinke Jin Education for the acquisition of sales equity. Agreement, the price is 22.66 million yuan. In addition, a final cooperation agreement was entered into with the target company and Tianjin Jinjiefei regarding the unpaid portion of the registered capital of Jinke Service’s fully paid-up sales equity of approximately 19.998 million yuan.
Jinke Jin Education is wholly owned by Jinke Co., Ltd. and is mainly engaged in education business investment and nursery business. As at the date of this announcement, Jinke Jin Education is owned as to 44.44% and 55.56% by Jinke Shares and Tianjin Jinjiefei respectively. As of December 31, 2021, the unaudited net asset value of the target company was approximately RMB 59.98 million. The nursery properties acquired by
include 43 commercial properties located in Chongqing, Guangzhou and Changsha, China, with a total construction area of 108,240 square meters. In the two years ending December 31, 2021, the pre-tax rental income attributable to the 35 leased nursery properties was approximately 4.505 million yuan and 4.5904 million yuan respectively.
Jinke Service stated that childcare services have always been one of the business areas that the Group attaches great importance to. In order to ensure the stability and long-term development of the target company's nursery business, the Company has also decided to acquire nursery properties. If the lease terms of these nursery properties currently leased to independent third parties expire, the Company intends to lease these properties to the Target Company to further expand its nursery business.
Country Garden Services took over a 45% stake in the Beijing foreign company Shuangxin Property Management Co., Ltd. Kunding Group withdrew.
On June 27, Kunding Investment Management Group Co., Ltd. withdrew a 45% stake in the Beijing foreign company Shuangxin Property Management Co., Ltd. Country Garden Lifestyle Services Group Co., Ltd. took over.
It is understood that before the equity change, Beijing Foreign Enterprise Shuangxin Property was 45% owned by Kunding Group, Beijing Foreign Enterprise Service Group Co., Ltd. held 45%, and Beijing Shengshi Linfeng Property Management Co., Ltd. held 9.99%; After the equity change, Beijing Foreign Enterprise Shuangxin Property Co., Ltd. holds 45% of the shares, Country Garden holds 45% of the shares, and Beijing Shengshi Linfeng Property Management Co., Ltd. holds 9.991% of the shares.
Public information shows that Beijing Foreign Enterprise Shuangxin Property Management Co., Ltd. was established on September 3, 1996. The legal representative is Li Zhong, the registered capital is 11.11 million yuan, the industry is the real estate industry, and the business scope includes: property management; Public parking services for motor vehicles; heat supply; conference services ; cleaning services (excluding tableware disinfection); etiquette services; rental of office space; sales of electronic products, computers, software and auxiliary equipment, etc.
Exit Fang Kunding Group was established in December 2009 with a registered capital of 509 million yuan and its legal representative is Qiu Ming. Its business scope includes market research; corporate planning; technology development, technical services, etc. Currently, Qiu Ming holds 42.41% of Kunding Group’s shares; it has 28 external investment companies.
Lushang Services plans to sell 33.34 million shares globally with an offer price of HK$5.30-7.92
html On June 27, Lushang Life Services Co., Ltd. announced that it plans to sell 33.34 million shares globally, including 3.334 million shares in Hong Kong and international sales. 30.006 million shares, with an additional 15% over-allotment option. It will issue shares from June 27 to June 30, with the expected pricing date being June 30. The offer price will be HK$5.30-7.92 per offer share, and the shares are expected to be listed on the Main Board of the Stock Exchange on July 8.During the track record period, Lushang's service revenue increased from RMB 321 million in 2019 to RMB 583 million in 2021 at a compound annual growth rate of 34.7%; net profit increased from RMB 321 million in 2019 to 63.2% in 2019. It increased from RMB 28.934 million in 2021 to RMB 77.017 million in 2021.
As of December 31, 2019, 2020 and 2021, the total construction area under management of Lushang Services was approximately 10.7 million square meters, 15.4 million square meters and 22.9 million square meters respectively. It is headquartered in Jinan City and has been established since 2006. Since then, the business scope has covered almost all prefecture-level cities in Shandong Province, as well as Beijing and Harbin.
China Overseas Property Group Co., Ltd. has entered into four service contracting agreements with several China Construction companies. On June 29, China Overseas Property Group Co., Ltd. announced the provision of guarantees to related parties, renewal of material procurement supply chain management service agreements, and hardcover loading material agency. Announcement of sales of framework protocol .
China Overseas Property (as the contractor) provides services to China Overseas Hongyang Real Estate Group (as the developer) and enters into bidding documents and contracts with China Overseas Hongyang Real Estate Group. The guarantee amount is RMB 20 million, and the guarantee period is from the date of China Ocean Hongyang’s guarantee to December 31, 2025.
China Construction Hong Kong and other companies also provide guarantees. China Shipping Properties (as a contractor) provides services (including but not limited to property management services and intelligent installation services) to China Construction Hong Kong Group (as a developer) and enters into an agreement with China Construction Hong Kong Group contract. The guarantee amount is RMB 10 million, and the guarantee period is from the date of guarantee by China Construction Hong Kong Company to December 31, 2025.
A contract entered into between China Overseas Property (as the contractor) and China Construction Macau Group (as the developer) to provide services (including but not limited to property management services and intelligent installation services). The guarantee amount is RMB 10 million, and the guarantee period is from the date of guarantee by China Construction Macau Company to December 31, 2025.
A contract entered into between China Overseas Property (as the contractor) and China Construction International Investment Company (as the developer) to provide services (including but not limited to property management services and intelligent setting services) to China Construction International Investment Company. The guarantee amount is RMB 10 million, and the guarantee period is from the date of guarantee by China Construction International Investment Company to December 31, 2025.
As of the date of this announcement, China Construction Group is the ultimate holding company of China Shipping Properties. China Overseas (a subsidiary of China State Construction Engineering Corporation) is the controlling shareholder of China Shipping Properties, China Overseas Grand Ocean and China State Construction International, with respective interests of approximately 61.18%, 38.32% and 64.81% of the issued share capital.
Investment Jiyu increased its investment by RMB 436 million to Shenzhen Huiqin and acquired a 65% stake in the latter after the latter's capital increase and share expansion
html On June 27, China Merchants Jiyu Industrial Operation Services Co., Ltd. announced the proposed acquisition of Shenzhen Huiqin Property Management Co., Ltd. Announcement on progress of capital increase.In December 2021, China Merchants Jiyu signed the "Capital Increase Agreement of Shenzhen Huiqin Property Management Co., Ltd." and the "Shenzhen Huiqin Property Management Co., Ltd." with Shenzhen Jinzun Investment Development Co., Ltd. and Shenzhen Huiqin Property Management Co., Ltd. According to the Company’s Shareholders Agreement, China Merchants Jiyu plans to pay cash to increase the capital of Shenzhen Huiqin, a wholly-owned subsidiary of Jinzun Company. After the capital increase is completed, China Merchants Jiyu will hold 65% of the equity of Shenzhen Huiqin, and Jinzun Company will hold Shenzhen Huiqin. Huiqin 35% equity.
According to the filed evaluation report, taking December 31, 2021 as the base date of , the evaluation result of Shenzhen Huiqin shareholders' total equity income method was 269.7216 million yuan, and the evaluation result of market method was 270.2543 million yuan, and was finally selected The income method evaluation result is used as the evaluation conclusion, that is, the evaluation value of all the equity of Shenzhen Huiqin shareholders is 269.7216 million yuan, the evaluation value added is 221.1057 million yuan, and the value-added rate is 454.80%.
is based on the registered evaluation report. In view of the agreement between China Merchants Jiuyu and Jinzun Company that Shenzhen Huiqin’s undistributed profits of 23.824 million yuan in all shareholders’ equity as of December 31, 2021 will be unilaterally enjoyed by Jinzun Company. After friendly negotiation with Jinzun Company, it was determined that the transaction price for all equity interests of Shenzhen Huiqin shareholders was 235 million yuan. The investment surplus was used to increase capital to Shenzhen Huiqin with 436 million yuan, obtaining 65% of the equity of Shenzhen Huiqin after the capital increase and share expansion.
Investment Jiyu: AVIC Properties plans to provide guarantees for its 500 million yuan credit loan
html On June 28, China Merchants Jiyu announced that due to business turnover needs, China Merchants Jiyu applied for a comprehensive credit line from Shenzhen China Merchants Bank RMB 500 million (including the equivalent in other currencies).The company's wholly-owned subsidiary AVIC Property provides a joint liability guarantee for this credit facility. The guarantee period is from the effective date of the guarantee letter to each loan or other financing under the company's credit facility agreement or the creditor's rights of accounts receivable transferred by Shenzhen China Merchants Bank. Three years are added to the maturity date or date of each advance. If any specific credit extension is extended, the guaranteed period will extend until the expiration of the extension period plus three years.
AVIC Property provides joint liability guarantee for the company to apply for credit from Shenzhen China Merchants Bank. The scope of the guarantee covers all the company’s debts under the credit contract. The guarantee period is from the effective date of the guarantee to the maturity of each loan or other financing under the company’s credit agreement. or the maturity date of the claims on accounts receivable transferred by Shenzhen China Merchants Bank or the advance date of each advance plus three years. If any specific credit extension is extended, the guaranteed period will extend until the expiration of the extension period plus three years. There is no counter-guarantee for this guarantee. The guarantee amount that
’s wholly-owned subsidiary intends to provide to the company is 500 million yuan. After providing this guarantee, the total external guarantee of the company and its holding subsidiaries is 2.75 billion yuan, accounting for 31.75% of the company's audited net assets attributable to shareholders of the parent company in 2021; the total balance of external guarantees of the company and its holding subsidiaries is 1.0175 million yuan Yuan, accounting for 11.75% of the company's audited net assets attributable to shareholders of the parent company in 2021.
Rongwanjia: It is expected to complete the annual performance review work before July 8th
On the evening of June 30, Rongwanjia released the latest quarterly information on the resumption of trading of and the announcement of the continued suspension of share trading.
According to the announcement, the group's business operations are continuing as usual in all major aspects, and its board of directors believes that there have been no major adverse changes in the group's business operations.
As of December 31, 2021, Rongwanjia managed a total of 349 property management projects , with a total construction area under management of approximately 67.9 million square meters. As of December 31, 2021, the group had contracted to manage 463 property management projects, with a total contracted construction area of 96.1 million square meters.
It is reported that due to the impact of the epidemic, Rongwanjia was unable to complete the review work before March 31, 2022. Therefore, the publication of the 2021 annual results was delayed. As of the date of this announcement, the audit work has been completed. auditor expects to complete the audit work before July 8, 2022. The company's board of directors will hold a meeting on July 8 to approve the 2021 annual results and their publication. In addition, the company's shares continue to be suspended.
Rongxin Services acquired the remaining 48% equity of its property management company at a transaction price of 12 million yuan
On June 29, 2022, Rongxin Shiou (an indirect wholly-owned subsidiary of the company) and Fujian Nuohai entered into an equity transfer agreement , Rongxin Shiou has agreed to acquire and Fujian Nuohai has agreed to sell a 48% stake in the target company Rongxin (Fujian) Properties for a total consideration of RMB 12 million.
As of the announcement date, the target company is 52% owned by Rongxin Shiou and 48% owned by Fujian Nuohai, and is an indirect non-wholly owned subsidiary of Rongxin Services. Upon completion of the acquisition, the target company will become an indirect wholly-owned subsidiary of Ronshine Services, and the financial results of the target company will continue to be integrated into the group's financial results.
The target company is principally engaged in the provision of property management services. The unaudited net asset value as of December 31, 2021 was approximately RMB 14.03 million, the profit after tax was RMB 19.69 million, and the total construction area under management as of December 31, 2021 was approximately 9.6 million square meters.
Ronshine Services believes that since the target company is one of the company's main operating subsidiaries, through the acquisition, the group will be able to increase its equity in the target company to 100%, thereby enhancing its control over the management and operation of the target company. power and influence, which will provide greater flexibility in business strategies and promote the group's long-term stable development.
