Shougang Concord International Enterprises Company Limited (00697) said Shouzhong Investment, a wholly-owned subsidiary of the company, the GP and Shenzhen Wanwu entered into a partnership agreement in relation to the formation of a partnership. Also, Shouzhong Investment and Shenzhen Wanwu entered into a transfer agreement with vendors in relation to the acquisition of the carpark income rights by the partnership.
The partnership will be engaged in the investment in carpark spaces, and will aim to obtain income by leasing, managing, and disposing of the assets of the underlying carpark spaces, thereby creating a satisfactory return on investment for the partners.
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