Changchun opens to 100% Equity in Liuhe Real Estate

Changchun opened (600215) November 9 Evening announcement, the company's board of directors through the asset replacement plan, the company intends to hold a total exhibition assets, Changchun International Convention and Exhibition Center Limited 95%, Changchun Economic and technological development zone, thermal limited liability company 99.99% Equity, Changchun Jing Kai Group Xinglong Thermal Limited liability company 100% Equity and Changchun by the state-owned Holding Group Co., Ltd. Jilin Liuhe Real Estate Development Co., Ltd. (abbreviation: Liuhe real Estate) 100% Equity Exchange, set out assets and placed assets of the pre-valuation of 990 million yuan, 997 million yuan, The difference between the assets placed and the assets placed is replenished in cash.　　This transaction does not constitute a related transaction and does not constitute a major asset reorganization. The company said that through the replacement of assets, stripping operating loss of the Heat and exhibition business, put into the business and housing real estate development, will change the company's previous main business decentralized and low profitability situation. After the replacement of the company's main business in the original first-level land commissioned development and project construction business based on the increase of profit potential of the commercial and residential real estate development business, land level one or two linkage development can effectively improve the company's main business core competitiveness and profitability.