Da Long Real Estate (600159.SH) subsidiary plans to acquire 60% of Beijing Chengzhu Real Estate Development Co., Ltd.

China Securities News APP news, Dalong Real Estate (600159.SH) issued an announcement to supplement the company's project reserves, enhance the continuous operating capability of the main business. The company's controlling subsidiary, Beijing Dalong Real Estate Development Co., Ltd. (referred to as "Dalong Limited"), has reached a preliminary intention with Beijing Shunyi New City Development Co., Ltd. (referred to as "City Development Company") to acquire 60% equity of Beijing Chengzhu Real Estate Development Co., Ltd. As the final terms of the transaction have not been determined, it cannot be confirmed at this time whether it constitutes a related party transaction. According to preliminary estimates, it is expected that this transaction will not constitute a major asset restructuring as stipulated in the "Measures for the Administration of Major Asset Restructuring of Listed Companies."