Buy equity in a real estate development company

Zhejiang Dongri (600113) holding subsidiary Wenzhou Dongri Real Estate Development Co., Ltd. June 24 through the public bidding, to 38.68 million yuan to the Jinhua Golden Lion Real Estate Development Co., Ltd. 60% equity. Golden Lion Room opened a registered capital of 20 million yuan, as at December 31, 2009, net assets are also 20 million yuan, after the assessment, the company's net assets valuation value of 70.7916 million yuan, increase or decrease of 253.96%.　　The evaluation of value added mainly comes from the promotion of land values. It is said that the Golden Lion Room opened in July 2006 and July 2008 two respectively competing for the land use of three adjacent plots, located in the Jinhua of the urban area, respectively, 19516.4 square meters, 10298.8 square meters, 8896 square meters,　　The use of three plots of the total area of 38711.2 square meters (58.07 mu), the overall building volume rate of about 1.75, three blocks connected to form a complete real estate commercial and residential development plots. Zhejiang Dongri that the equity acquisition is the company's sustainable development needs, in line with the company's development strategy.　　According to the company's investigation and analysis, the Golden Lion Room opened in Jinhua project has a better future, the company's future financial situation and operating results will have a positive impact.　　Due to the future development of real estate business needs, Tatsu Group (600734) agreed to the company under the holding subsidiary of Changchun Rong Chong Land Co., Ltd. Changchun to buy the Investment Co., Ltd. Changchun holding a 2.8% stake in the real Estate Development Co., Ltd., the transaction price of 12.4 million yuan.　　of which 1.96 million yuan from the creation of the capital of Changchun to fulfill the investment in Changchun Ka Shing obligations, to the Changchun Ka Shing as the part of the equity does not increase the portion of the increase in capital, another 10.44 million yuan to pay for the investment, as a purchase of equity. Changchun Jia Sheng Company was founded in 2005, the scope of business for real estate development. The company mainly develops Changchun Net Moon Uptown Project. The project is located in the Changchun economic Development Zone, the project Dongzhi long double Highway waters west, south to Green Belt, west to Wang Tun Land, north to plan a all the way. The west side of the plot adjacent to the National Scenic spot-Jingyuetan Forest Park, the Forest Park is Changchun's most famous tourist attractions. Project planning land area of about 380,000 square meters, the estimated construction area of about 380,000 square meters, the products to the row villas, double villa mainly.