Summary by Moomoo AI
On 28 December 2023, Jinmao China announced that its wholly-owned subsidiary Jinmao China East and Hangzhou Mancheng and Shenzhen Yu Lu signed a capital increase agreement to jointly raise RMB990 million to Xi'an Runmao. After the capital increase, Xi'an Runmao's registered capital will increase from RMB10 million to RMB1,000 million. Jinmao, Hangzhou Mancheng and Shenzhen Yu Lu will hold 51%, 40% and 9% shareholdings in Xi'an Runmao, respectively. The increase is intended to jointly develop the Shanghai land and will be used for the day-to-day operations of Xi'an Runmao and the investment development of the land. Under the Listing Rules, this transaction constitutes a disclosable transaction because the maximum applicable percentage of the transaction is greater than 5% but less than...Show More