Cinda Real Estate (600657.SH) plans to establish a partnership enterprise with CHINA CINDA (01359) to invest in a project in Wuhu City, Anhui Province.
Shindoo Real Estate (600657.SH) announcement, the company's wholly owned subsidiary, Anhui Shindoo Real Estate Development Co., Ltd.
Cinda Real Estate (600657.SH) announced that its wholly-owned subsidiary Anhui Cinda Real Estate Development Co., Ltd. ("Anhui Cinda Real Estate") has jointly subscribed for shares of the Wuhu Xinhua Bang Industrial Investment Partnership Enterprise (Limited Partnership) ("Partnership") with affiliated companies CHINA CINDA Asset Management Co., Ltd. ("CHINA CINDA", 01359) and Xinshengli Insurance Equity Investment Co., Ltd. ("Xinshengli Insurance"). The total subscribed capital of the Partnership is 651 million yuan, with Anhui Cinda Real Estate subscribing for 350 million yuan, accounting for 53.73%. The Partnership plans to invest in a project in Wuhu City, Anhui Province. As of now, the project has started construction with an expected total value of about 1.19 billion yuan.
The announcement states that CHINA CINDA is the controlling shareholder of Cinda Real Estate's parent company, Cinda Investment Co., Ltd. ("Cinda Investment"), and Xinshengli Insurance is a subsidiary of Cinda Investment.
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