Wuhan Ddmc Culture & Sports (600136.SH) plans to acquire a 51% stake in COUNTRY GARDEN from Qingneng.

Wuhan Ddmc Culture & Sports (600136.SH) announced that the company plans to invest 46.01 million yuan to acquire 51% equity of Hubei Qingen COUNTRY GARDEN Property Services Co., Ltd. (referred to as "Qingen COUNTRY GARDEN") held by its controlling shareholder Hubei Liantou City Operation Co., Ltd. (referred to as "Liantou City Operation"). After the acquisition, the company will hold 51% equity of Qingen COUNTRY GARDEN, making it a subsidiary of the company and included in the consolidated financial statements.