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00884 CIFI HOLD GP
RTNominal unchange0.255 0.000 (0.000%)
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09/09/2021 11:55

CIFI Hold (00884) to form JV for Dongguan site

[ET Net News Agency, 9 September 2021] CIFI Holdings (Group) Co. Ltd. (00884) said the
company, together with its subsidiaries, namely Shenzhen Xuhui, Dongguan Xingji and
Dongguan Project Company entered into the Dongguan Cooperation Agreement with Henderson
China Properties and Green Charm, an indirect wholly-owned subsidiary of Henderson China
Properties, for the formation of joint venture to develop the Dongguan Site located in
Dongguan, Guangdong Province, the PRC.
Green Charm proposes to acquire 50% of equity interest in Dongguan Xingji by way of
capital increase. Upon the completion of the capital increase, Dongguan Project Company
will be indirectly owned as to 50% by the company (through Shenzhen Xuhui) and 50% by
Henderson China Properties (through Green Charm).
The capital commitment currently intended to be payable by the group for the
transactions contemplated under the Dongguan Cooperation Agreement is estimated to be
RMB482,800,000. (RC)

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