Chinese Enterprise (600675.SH): Consortium successfully won the bid for 100% equity of Shanghai Xin Feng'an Enterprise Development Co., Ltd.

Wisdom Finance APP News, China Enterprise (600675.SH) announced that its wholly-owned subsidiary Shanghai Land Diamond Real Estate Co., Ltd. (referred to as "Land Diamond Real Estate") and Chenjia Development Group Co., Ltd. (referred to as "Chenjia Development") 's wholly-owned subsidiary Shanghai New Qihong Chuang Real Estate Co., Ltd. (referred to as "New Qihong Chuang") successfully won the bid for 100% equity of Shanghai Xin Feng'an Enterprise Development Co., Ltd. (referred to as "Xin Feng'an Company"). Land Diamond Real Estate holds 70% of the shares and New Qihong Chuang holds 30% of the shares. The total transaction price for this auction is RMB 2.987 billion, with Land Diamond Real Estate investing RMB 2.091 billion to acquire 70% equity and corresponding debt of Xin Feng'an Company, and New Qihong Chuang investing RMB 896 million to acquire 30% equity and corresponding debt of Xin Feng'an Company. This successful bid is in line with the company's strategic development layout and overall operational needs, increasing the company's project reserves.