China Body Industry Olympic Garden project Shanghai changed hands

As the China Body Industry (600158) its well-known real estate brand "Olympic garden" project has been in the country 47 cities everywhere.　　The "Sports + real Estate" model has also been well talked about in bringing benefits to China, but this time, the Olympic garden project was frustrated in Shanghai.　　At the same time, the securities daily Reporter learned yesterday, the Sino-body industry and Wantong Real estate in Sanya, Hainan Haitang Bay Olympic International Village Project has not yet entered the procedure, and this from the Chinese body industry was set up one year due date (March 16, 2010) has passed 2 months.　　Fear of punishment? According to the Chinese industry yesterday's announcement, the board of Directors agreed to the company's 54.95%-holding subsidiary, Shanghai Olympic Real Estate Investment Co., Ltd. (hereinafter said: "The Austrian Company") will be held by the Shanghai Kang du Real Estate Co., Ltd. 100% of the shares of 737 million yuan to Jiangxi province Fuzhou Acer Real Estate Co.　　Shanghai Kang du Real estate is responsible for the development and construction of Shanghai Fengxian Olympic Garden Project. For the reasons for the transfer, the Chinese industry in the announcement said: The Project Land "Fengxian No. 15th block" due to the relocation of the reasons for the delay does not have the starting conditions.　　In view of the 2010 state of the real estate industry, the unprecedented macro-control measures and the national scope of idle land inventory registration, the implementation of the punishment policy gradually in place, in order to avoid market and policy risk, Shanghai Olympic home to transfer it out. Data show that in July 2008, the Austrian company with its own capital of 510 million yuan to invest in the acquisition of Shanghai Kang are 100% of the equity, at the same time to obtain project land, the development and construction of Shanghai Fengxian Olympic Garden Project. As at March 31, 2010, Shanghai Kang Capital's total assets of 527.0081 million yuan, net assets of 8.7266 million yuan; 2010 1-March net profit is loss of 59,700 yuan, operating income of 0 yuan, operating profit of 59,700 yuan; the net profit of 2009 audited is 1.0545 million yuan, operating income is 0 yuan, operating profit is loss 105　　.450,000. Land transfer benefits 70 million higher than 09 net profit However, through the transaction in the body industry also benefited a lot, the Chinese industry said it is expected to bring the company about 70 million yuan in revenue.　　Data show that the Chinese industry last year to achieve a net profit of 50.9768 million yuan, a transfer of income can be the enemy for one year. In the 2009 Annual report, the middle-body industry from real estate income of about 728 million yuan, and sports events and fitness services income and only 90 million yuan, real estate income has become the central body industry.　　But in the first quarter of this year, China's industry only achieved a net profit of 964,800 yuan, the 09 year's net profit is more than 08 fall by 74.18%, the performance is unusually bleak. The reporter calls the Chinese body industry, but the staff said Dong's secret meeting outside, cannot contact. The reporter also contacted to the Austrian company, a person said: "We only do the Olympic garden project, other inconvenience more said.""However, some analysts pointed out:" The Chinese-body industry This move does not rule out the suspicion of reselling land, as the root of the red head of the State enterprise, the probability of getting land will be larger, until the land appreciation and then sell out also is a good way. But now, with policy regulation, it has to be thrown away.　　"But the above Austrian companies said the future will not rule out the possibility of continuing to build Olympic projects in Shanghai." The announcement shows that the project's recipient Jiangxi Province Fuzhou Acer Real Estate, registered capital of 30 million yuan, natural persons Jin Renyu, He Wanguo, respectively, holding its 67.41% and 17.78% equity.　　As at the end of March 2010, the company's total assets of 550 million yuan, net assets of 272 million yuan, net profit of 200 million yuan.　　Sanya Olympic International Village is still "castles in the Castle" at the same time, the Chinese-body industry in Sanya Olympic International village project still helpless. Data show that, on March 16, 2009, the Chinese-body industry and the Sanya People's government signed the "Sanya Olympic International Village Project cooperation Letter of Intent" (hereinafter referred to as LOI), China and the International Olympic Committee, the Chinese Olympic Committee, Hainan Province People's government, the Sanya people's government and wantong real estate cooperation,　　Invest in the construction of Sanya Olympic International Village project in Sanya Haitang Bay. The project is located in Sanya Haitang Bay, the total area of about 2200 acres, will be set education, culture, exhibitions, sports, conferences, vacations as a whole.　　The proportion of the Olympic project in Sanya occupies 46% of the middle-body industry, Wantong real estate accounted for 44%, the IOC accounted for 5%, and the Chinese Olympic Committee accounted for 5%. The Chinese industry said the letter of intent would be terminated automatically if the company failed to obtain the land for the project within one year of the date of the signing of the letter of intent (March 16, 2009).　　However, the project has not progressed due to delays in the use of the project, and the project will be terminated if no land is available within the company's prescribed one-year deadline (i.e., March 16, 2010).　　It is now 2 months since the March 16 automatic termination date, and the Chinese industry has not issued a notice on the matter, so what is the situation now? Wantong Real Estate A senior personage told the reporter yesterday: "That piece of land has not been cleared out, has not entered the procedure which the recruit Pats hangs." This project is led by the Chinese industry, we just do one of the residential development of the piece, now exactly when we can get, at what price to get are not clear. However, at the beginning of this year, the State Council issued Hainan International Tourism Island construction advice. Spurred by the news, Hainan Province's house prices soared, and the Chinese industry may have to add more silver to the plot.