China River Real estate rushes back 195 million estimated liabilities

Sino-Jiang Real Estate (600053) announced today, the first quarter of this year, the estimated $205 million in debt, can be rushed back to 195 million yuan. This occurred in the first quarter because of Shenzhen Regal Technology Development Co., Ltd. Bank loan guarantee caused.　　Due to the small scale of the real estate operation in China, the net profit fluctuation is caused by both the mention and the rushing back. Data show that May 27, 2002, the Shenzhen Longhua branch to the rich technology to provide 150 million yuan of liquidity loans, loans for a period of 21 months. Deep development and Hong Kong Fung Real Estate signed the "mortgage guarantee contract", with the Sino-Jiang Real Estate, Wang Shuchen respectively signed the "loan guarantee contract" to ensure that the way to bear the responsibility of joint and several reimbursement.　　After the rich technology has not been repaid, deep development Longhua branch in March 2009 to the Shenzhen Arbitration Commission for Arbitration, November 2009 Shenzhen Arbitration Committee to make a ruling, ruling the rich technology immediately repay the loan principal and the corresponding interest, Hong Kong Fung Real Estate to assume the responsibility of the mortgage, Jiang Real estate and Wang Shuchen Bear Joint and several liabilities　　After the arbitration, China's real estate in the first quarter of this year decided to pay 205 million yuan of estimated liabilities (including interest of 55.3 million yuan). But the matter has recently been on the turn. China River Real Estate recently learned that the deep development of Longhua branch, Shenzhen Great Wall State investment Guarantee Holdings Limited, Hong Kong Fung Real Estate signed the agreement, Agreed by the Hong Kong Fung Real Estate on behalf of the rich Technology repayment owed Longhua branch 150 million yuan loans and interest, the Great Wall Gototimes agreed to provide 150 million yuan cash deposit guarantee for the repayment responsibility of the Hong Kong Fung Real Estate, after the Great Wall State Sheng provided the above pledge guarantee, the deep development Longhua branch lifted the Hong Kong abundant property name "the Harbour Fung Mansion"　　The registration procedure for the cancellation of the right to use land and agree that if the Hong Kong Fung property is reimbursed at $10 million before October 30, 2011, it will exempt other interest, penalty, liquidated damages and guarantor's liability for the debts owed by the rich technology. Hong Kong Fung property to the Sino-Jiang Real Estate issued a commitment letter, commitment such as the deep development of Longhua Branch to the Shenzhen in the application for compulsory enforcement of the relevant arbitration decision, Hong Kong Fung Real Estate will pay the company to bear the repayment of the responsibility, and is willing to "Hong Kong Fung Mansion" part of the At the same time, the company should be due to the performance of the security responsibility of the rich technology to recover the right to the Hong Kong Fung property.　　At present, the Great Wall Gototimes has according to the agreement to the Deep Development Longhua Branch issued 150 million yuan of cash deposit certificate and pledge guarantee; deep development Longhua Branch has agreed to lift the "Hong Kong Fung Mansion" land use rights of the cancellation of mortgage registration procedures. Sino-Jiang Real Estate said that the company in the case of the actual liability for loan security legal risk has been greatly reduced, as a result of the security of the economic losses will not exceed 10 million yuan. The company estimated $205 million in liabilities to be reversed.　　As of this year three quarters, the real estate in the river is the most serious loss of property companies, loss of 216 million yuan, rushed back to 195 million yuan, four quarters as long as the profit of 20 million yuan can be lost. Author: South