Ningbo Xiang’an Enterprise Management Co., Ltd. signed a share transfer agreement to acquire Ningbo Rongan Property Service Co., Ltd. from Rongan Property Co.,Ltd. and Ningbo Rongan Real Estate Development Co., Ltd for CNY 31.3 million.
July 16, 2020
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Ningbo Xiang’an Enterprise Management Co., Ltd. signed a share transfer agreement to acquire Ningbo Rongan Property Service Co., Ltd. from Rongan Property Co.,Ltd. (SZSE:000517) and Ningbo Rongan Real Estate Development Co., Ltd for CNY 31.3 million on July 16, 2020. Ningbo Xiang’an Enterprise Management Co., Ltd. will pay CNY 21.889 million to Rongan Property Co.,Ltd. and will pay CNY 9.381 million to Ningbo Rongan Real Estate Development Co., Ltd. Ningbo Xiang’an Enterprise Management Co., Ltd. agrees to pay CNY 7 million o Rongan Property Co.,Ltd. and CNY 3 million to Ningbo Rongan Real Estate Development Co., Ltd respectively within 10 days from the date of entry into force of this contract; within 10 days after completing the equity change business registration, Ningbo Xiang’an Enterprise Management Co., Ltd. shall pay the remaining price of CNY 14.889 million to Rongan Property Co.,Ltd. and pay the remaining price of CNY 6,381,000 to Ningbo Rongan Real Estate Development Co., LtdAs on December 31, 2019, Ningbo Rongan Property Service Co., Ltd. had total assets of CNY 83.5 million, net assets of CNY 35.6 million and for the year ending December 31, 2019, Ningbo Rongan Property Service Co., Ltd. had operating revenue of CNY 118.7 million, operating profit of CNY 32.6 million, net profit of CNY 27.8 million.
RONGAN PROPERTY CO.,LTD. is a China-based company principally engaged in the development and distribution of real estates. The Company is mainly involved in the development of real estates, property leasing, property management, as well as construction agency and building construction. The Company mainly develops commercial residential properties. Its property leasing business consists of the rental of two commercial office buildings. The Company operates its business mainly in domestic market.
Ningbo Xiang’an Enterprise Management Co., Ltd. signed a share transfer agreement to acquire Ningbo Rongan Property Service Co., Ltd. from Rongan Property Co.,Ltd. and Ningbo Rongan Real Estate Development Co., Ltd for CNY 31.3 million.
RONGAN PROPERTY CO.,LTD. 
