Gelonghui, September 22, Shibei High-tech (600604.SH) announced that in view of the fact that the "Yunjian Jinyuan" residential project of Songming Real Estate, a shareholding company of Shibei Xiangteng, a subsidiary of the company, has completed all aspects of development, construction and sales. In order to improve the efficiency of the use of Shibei Xiangteng assets and withdraw funds in a timely manner, Shibei Xiangteng plans to transfer its 28% stake in Songming Real Estate by public listing on the Beijing property Exchange.
The initial listing price of this equity transfer is expected to be no less than RMB 7.024752 million, and the final transfer price depends on the actual transaction price of the transferee on the Beijing property Exchange. This equity transfer Shibei Xiangteng held 28% stake in Songming Real Estate and original Zhengheng held 28% stake in Songming Real Estate will be bundled and listed for transfer. If this transaction is successfully completed, Shibei Xiangteng will no longer hold a stake in Songming Real Estate.