200 million take part in the development of Tangshan block

6th, billion city shares (000616) and Tangshan Douhe Qinglong River Management Committee (preparation), Tangshan Douhe Qinglong River Development and Construction Investment Co., Ltd. on the cooperation of Tangshan around the surrounding water system about 260 acres of land development signed an agreement. The target plots are located in the Tangshan Qinglong Lake Coastal area, an area of about 260 acres.　　Billion city shares agreed to the two River Committee before December 10 to pay 200 million yuan as a first-level development funds, two River management committee, two River Investment company is responsible for the target block level development and collation, including land requisition and demolition compensation, "four-pass-one-ping" supporting project improvement, etc., complete the target block listing "strokes hang" before all the work. According to the agreement, if billion city shares or its subsidiaries in the contract signed within one year through the land "strokes hanging" or other legal forms to obtain the target land use rights, then in the payment of land transfer gold within one months, the transaction should be in accordance with the Central bank lending rate of the same period to return billion city shares all the investment , if billion city shares or its subsidiaries in the contract signed within one year to participate in land "strokes hang" did not obtain the right to use the target block, then within one months from the date of signature of the target parcel deal confirmation, the transaction should be in accordance with the Central bank lending rate on the same period of 50% float to return billion city shares all the investment　　If the target plot is not signed within one year of the contract, the land "strokes", then in the contract signed within one year, the transaction should be in accordance with the Central bank lending rate of the same period to return billion city shares all the investment. Billion city shares said that through the signing of the agreement to participate in the development of the Tangshan target plots, is the company to implement the "focus on the Bohai Sea region" strategy of the important measures. If the company can be in the follow-up land "strokes hanging" in the successful acquisition of the project, will provide the company with new land reserves, become the company's new profit growth point, enhance the company's continued profitability.