Small | remember Evergrande 2.1 billion sell 4 projects European ZongRong transfer of 140 million shares Lang poet adjustment

2022-05-26 0 By

Evergrande Group co., LTD. (EVERgrande) announced on February 25 that it signed a cooperation agreement with Evergrande Trust co., LTD. (EVERgrande) and Minmetals Trust Co., LTD. (MINmetals) to sell the group’s equity in four projects to them.The trust institution will take over the operation and management of the project company, invest funds into the project company to ensure the subsequent development and construction of the project and guarantee the delivery of the building, and the Group has the right to exercise the buyback of equity.Evergrande said that through the cooperation with trust institutions, the group can recover part of the initial investment in the project of about 1.95 billion yuan, and resolve the debts involved in the project of about 7.01 billion yuan. The recovered investment has a positive impact on the construction guarantee and debt settlement of other projects of the group.China Evergrande plans to use the proceeds from the sale mainly to guarantee the construction and delivery of other domestic projects of the Group and as general working capital.According to viewpoint new media, on the announcement day, Evergrande signed an agreement with Everbright Trust to sell several project companies’ equity and creditor’s rights.Including 10% equity of Chongqing Daichen Real Estate Development Co., LTD. (Evergrande Daishan Huating Project) and RMB 279 million creditor’s right, and 9.8712% equity of Dongguan Hongchuan Real Estate Development Co., LTD. (Dongguan Evergrande Yuelong Tai Project) and RMB 500 million creditor’s right.The total consideration for the equity and debt to be sold under the everbright Trust sale is $1.03 billion.According to the notes, the remaining equity of each project company is held by everbright Trust’s subsidiaries or associates.In addition, the assets evergrande sold to Minmetals Trust include 9.23% equity and RMB 240 million creditor’s right of Foshan Shunde Yingqin Real Estate Development Co., LTD. (Foshan Bogrui Fu Project), Nansha Henggrui And Nansha Hengchang (10.97% equity respectively, Guangzhou-Shenzhen International Cultural and Tourism City project) and RMB 640 million creditor’s right.The total consideration for the shares and claims to be sold under the sale of Minmetals Trust is $1.1 billion.According to the notes, the remaining equity of each project company is held by minmetals Trust’s subsidiaries or associates.Evergrande pointed out that the group will retain the right of financial supervision in the project and the right of joint pricing of sales.After taking over the 4 projects, the trust institution shall be responsible for investing the funds needed for development and construction in the relevant projects according to actual needs.When the relevant projects are realized, the proceeds will be used to repay the trust’s input (including any input to the relevant projects before and after the takeover), and the surplus will be used to repay the group’s initial capital input.The trust does not actually participate in the profit distribution of the project as a shareholder.After repaying the investment of the trust institution, Evergrande may exercise its right to require the trust institution to transfer 100% of its interest in the relevant project to the Group at zero consideration.If the Group chooses not to exercise the buyback right, the relevant project company will continue to be managed by the trust institution, and 5% of the annual distributable profits of the relevant project company will be allocated to the trust institution, and the balance will be allocated to Evergrande.On February 25, Zhenro Real Estate Group Co., Ltd. announced that on February 22, 2022,140,000,000 ordinary shares of the Company beneficially owned by RoYue Limited have been transferred to third parties upon the exercise of a security interest in such shares.RoYue is wholly owned by The controlling shareholder of Zhenro Property (as defined in the Listing Rules), Mr Au Chun-jung. Immediately following the share transfer, RoYue’s shareholding in the Company has been reduced to 2,080,326,000 shares, representing approximately 47.63% of the total issued share capital of the Company as of the date of this announcement.Immediately after the share transfer, the Eu family held a total interest of approximately 60.02% of the total issued share capital of Zhenro Real Estate.In addition, according to Viewpoint New media, on February 24, Zhenro Real Estate announced that the group has been exploring the possibility of selling certain assets to improve its overall liquidity position.To this end, the Group is actively seeking suitable buyers (including joint venture partners and state-owned enterprises) and is in discussions with a number of potential buyers for the possible sale of its stakes in certain property developments and investment’s acquisition of Dada will be completed by the end of February On February 25, JINGdong Group Co LTD released an insider information announcement, revealing the progress of its investment in Dada.Jingdong Group and Dada Nexus Limited, China’s leading local instant delivery and retail platform “Dada”, jointly announced that jingdong Group’s investment in Dada has obtained all necessary regulatory approvals, According to View New Media.It is now expected that the transaction will be completed by the end of February 2022.Upon completion of the transaction, Dada will issue a certain number of Dada common shares to in consideration of $546 million in cash and certain strategic resources.Jd group will hold approximately 52% of the issued and outstanding shares of Dada, including its existing equity, and expects to incorporate Dada’s financial results into its consolidated financial statements.It is reported that in March 2021, JINGdong Group announced that it would subscribe for dada Group’s newly issued common shares with $800 million. After the transaction is completed, including its shares currently held, JINGdong will hold about 51% of Dada Group’s shares.Since October 2021, JINGdong Group and Dada Group have jointly announced the launch of “nearby” channel and instant retail brand “Hourbuy”.The two sides will jointly improve consumer experience through continuous innovation, especially convenient and efficient instant consumer experience, and comprehensively deepen omni-channel cooperation.Jiang Chao, ShenLeYing quit lang poem green real estate related position Custine, Huang Zheng took over 25 February, lang poem green real estate co., LTD., said, because the Jiang Chao will put in more time as the company controlling shareholder lang poem group co., LTD., its stock of the c-terminal innovation business, so resigned, executive director and executive vice President, shall take effect on February 25, 2022.Shen Leying resigned as a non-executive director of the company effective From February 25, 2022 because she would devote more time to the green technology business of lanshi Group’s affiliated enterprises.Upon resignation, He will cease to be a member of the Remuneration Committee of the Company and cease to be an authorized representative of the Company under Rule 3.05 of the listing rules of the Stock Exchange of Hong Kong Limited.According to View New Media, Liang Xu has been appointed as a non-executive director of Lanshi Green Real Estate with effect from February 25, 2022;And Mr Huang zheng have been appointed as an authorised representative under Rule 3.05 of the Listing Rules with effect from 25 February 2022.Information shows that Mr. Xu, 45 years old, is the vice president and chief financial officer of Langs Group.Before joining Longfor Group in 2021, He worked in well-known enterprises such as Longfor Group and served as the head of the Group’s Financial Assets Center.He has over 19 years of experience in finance and real estate industry.He holds a master’s degree in accounting from Shanghai University of Finance and Economics. He is a non-practicing member of Chinese Institute of Certified Public Accountants and has obtained the qualification of Financial Risk Manager (FRM).Xu Liang has executed the letter of appointment issued by the Company on 25 February 2022 for the appointment of PI as a non-executive director for a period of three years from 25 February 2022.Except as disclosed above, as of the date of this announcement, Tsui Liang does not currently hold any other directorship with companies whose securities are listed on other stock exchanges in Hong Kong or overseas, nor has he held any directorship in the past three years;Has no connection with any director, officer, principal or controlling shareholder (within the meaning of the listing rules) of the Company;Does not have any interest in the shares of the Company as defined in Part XV of the Securities and Futures Ordinance, Cap. 571;Does not hold any other position with the Company or any other subsidiary of the Company;And without any other major appointment or professional qualification.On February 25th, China State Construction Corporation Limited issued a major project announcement.According to viewpoint new media, recently, China State Construction Engineering has won 21 major projects with a total project amount of 61.82 billion yuan, which accounts for 3.8% of the audited operating revenue in 2020.Among them, 16 houses were built, with a total value of 45.1 billion yuan.China Construction Third Engineering Group Co., Ltd. won the General contracting project of Guangdong Shenzhen Green Landscape Baishizhou Jingting, the project amount of 5.06 billion yuan;China Construction Fifth Engineering Bureau won the general contracting project of hainan Ecological smart New Town A-01-02 housing project, with the project amount of 2.84 billion yuan.In addition, China State Construction Engineering Held the thirteenth meeting of the third board of Directors and deliberated and approved a proposal on hiring Zhang Zhaoxiang as president of China State Construction Engineering Co., LTD.According to the work needs, Mr. Zheng Xuexuan, chairman of the board of directors, and the nomination committee of the third session of the board of Directors have approved Mr. Zhang Zhaoxiang as the president of China State Construction Engineering Co., LTD.The above-mentioned appointment shall take effect from the date of approval by the board of Directors and shall remain in office until the board of Directors otherwise hires/dismisses the appointment.Zhang Zhaoxiang is currently the deputy Secretary of the Party Group, director and general manager of China State Construction Group Co., LTD., and director of China State Construction Corporation Limited.Senior engineer, master candidate.He served as secretary of the Party Committee and General manager of China Metallurgical Science and Industry Group Co., LTD., member of the Party Group and deputy general manager of China Minmetals Group Co., LTD.He has served as deputy Secretary of the Party Group of China State Construction Group Corporation Limited since July 2020 as a director of China State Construction Group Corporation Limited since August 2020 as a director of China State Construction Corporation Limited since December 2020 and as general Manager of China State Construction Group Corporation Limited since February 2022.On February 25, Yuzhou Group Holdings Limited announced the change of auditors.According to opinion new media, Ernst & Young has resigned as auditor of Yuzhou Group with effect from February 25.On February 8, E&Y informed management that progress on the 2021 audit was significantly behind the originally agreed timetable.There are certain major information that are not yet available, including but not limited to accounting records, evaluation reports and cash flow information of Yuzhou Group, and are awaiting documents and information from the management of Yuzhou Group.At the current pace of audit work, ERNST & Young believes it is difficult to accurately estimate additional costs and resources and the indicative completion date of various audit procedures necessary to produce an audit opinion on yuzhou Group’s consolidated financial statements for the year ended 31 December 2021.In response, Ernst & Young decided to resign as auditor of Yuzhou Group.Ernst & Young has confirmed in its resignation letter that there are no circumstances relating to the resignation that need to be brought to the attention of shareholders of Yuzhou Group other than the above.The Board of Directors and the Audit Committee of Yuzhou Group confirm that there are no other matters or circumstances other than those mentioned above that require the attention of shareholders regarding the change of auditor.In the opinion of the Audit Committee, the change of auditor will not have any impact on yuzhou Group’s annual audit for the fiscal year ending December 31, 2021.The Board further announces that, in accordance with the company’s articles of association and on the recommendation of the Audit Committee, it has decided to appoint Unitai Pessoon (Hong Kong) CPA Limited as yuzhou Group’s new auditor with effect from 25 February 2022 to fill a temporary vacancy following resignation until the end of the Company’s next annual General Meeting.On February 25, Shanghai Construction Group Co., Ltd. issued a notice on the progress of the lawsuit.According to the view of new media, in January 2022, Shanghai construction subordinate subsidiary Shanghai construction QiJian group co., LTD for shijiazhuang Evergrande miles WenTang issue of residential and commercial projects owner built cast xibaipo in hebei macros more all overdue payments related to real estate development co., LTD, guangzhou city, guangdong province, to the intermediate people’s court, requesting the court to lift the related agreement,The defendant was ordered to pay the plaintiff $364 million of the balance of the settled project and overdue interest, and bear litigation costs.On February 24, Shanghai Construction Engineering Received the (2022) Yue 01 Minzhu 32 civil ruling from Guangzhou Intermediate People’s Court of Guangdong Province, which ruled that the case should be handled as the withdrawal of the lawsuit by SEVEN Construction Group.Recently, the group has filed a separate lawsuit in guangzhou Intermediate People’s Court in Guangdong province.It was ordered to terminate the Construction Contract of Hebei Province Construction Project, The Main Part and Supporting Construction Contract of No.2 and No.3 Bidding Section of Shijiazhuang Evergrande Shili Wentang First Opening Area and relevant supplementary agreements signed by the original defendant;The defendant was ordered to pay the plaintiff 317 million yuan for the project and 47,6863 million yuan for overdue liquidated damages (provisional);It is confirmed that the plaintiff enjoys the priority of compensation for the discount or the auction proceeds of “the main body and supporting construction project of No.2 and No.3 Bidding Sections of Shijiazhuang Evergrande Shili Wentang First Development Area” within the amount of claim mentioned in item 2 above.In addition, in December 2021, 7th Construction Group, a subsidiary of Shanghai Construction Institute, filed a lawsuit against Houshi Real Estate and its collateral liability person Li Jinjun in The Intermediate People’s Court of Handan City, Hebei Province, because the owner of Dayyou Times Square in Handan City, Hebei Province, Hebei Houshi Real Estate Development Co., Ltd. owed the project payment.Recently, Shanghai construction received hebei Handan City Intermediate People’s Court issued (2021) Hebei 04 Minchu 198 civil order.The defendant’s deposit of 421 million yuan in Hebei Houshi Real Estate Development Co., Ltd. and Li Jinjun Bank was frozen or other assets of the same value were seized.On February 25th, Shenzhen Wongtee International Enterprise Co., Ltd. announced that the board of directors has recently received a written resignation report from Wu Kai, secretary of the board of directors of the company. Wu Kai resigned from the position of secretary of the board of directors of the company due to a change in his job. After his resignation, he still holds other positions in the company.As of the date of this announcement, Wu Kai does not hold shares of the company.Huang Ting International said that During his tenure as secretary of the board of directors of the company, Wu Kai was diligent and dutiful, and played an active role in standardizing the company’s operation and promoting the strategic transformation of the company. The board of directors of the company expressed their heartfelt thanks to Wu Kai for his contribution to the company.According to the new media, the fourth interim meeting of the ninth Board of Directors held on February 25, 2022 deliberated and passed the “Motion on the appointment of Mr. Wu Kai as deputy General Manager of the company” and “Motion on the appointment of Mr. Yang Bin as deputy General Manager and secretary of the Board of Directors”.The independent directors of the company have expressed their independent opinions on the appointment of senior management personnel.Nominated by Liu Haibo, general Manager of the Company, and after the qualification examination of the nominating committee of the Board of Directors, the board of directors agrees to appoint Wu Kai as the deputy general manager of the company, responsible for the investment business of the company. The term of office starts from the date of approval by the board of Directors and ends on the expiration date of the ninth term of the board of Directors.