East Hundred group encounters closure storm

East Hundred Group (600693.　　SH) The first project to expand in different places was closed to the storm.　　December 2, the East Hundred Group Bulletin said, recently the company received Fujian three letter group (Putian) Commercial Operations Limited (hereinafter referred to as three letter company) issued the "lifting of the housing leasing contract notice", Putian East Hundred shopping malls in the early morning of November 29 began to stop the water and electricity supply, is currently in a state of "Signed receipts show that the three letter company November 17 to the East Hundred group issued a notice of the lifting of the housing leasing contract, the East Hundred group November 18 has received."　　"Three letter company legal adviser Wang Kingyu lawyer discloses." According to its introduction, because no fire safety inspection qualified to put into use, August 18, the fire department ordered Putian East Hundred shopping malls before October 31 rectification in place, but to three letter to the company issued the cancellation of housing leasing contract November 17, Putian East Hundred mall has not yet obtained the "Fire Safety Inspection Certificate",　　Nor to the fire department to apply for fire inspection, leasing and public safety has caused major fire safety problems, and arrears of November 1, 2009 to July 31, 2010 A total of 9 months rent 5466285 yuan, property management fees, such as 717794 Yuan.　　According to the 2009 Annual report, the above projects for the East Hundred Group of profits to achieve the company's total profit of the current period of more than 10%.　　Why this is expected by the East hundred group of future profit growth of the company's Putian store and managed projects, the actual operation of only a few months time, one after another abortion end? Closure letter in accordance with the East Hundred group October 20, 2009 announcement, its three letter company development of Putian three letter Jinding Plaza commercial projects in the area of about 18,000 square meters for the operation of "Putian East Hundred Mall", and the trusteeship of about 34,000 square meters of area for the overall investment, property management and commercial operations, the period of 15 years　　From February 1, 2010 to January 31, 2025.　　According to the 2009 Annual report, the above project is a significant contract for the profit of the East Hundred group to meet the total profit of the company for the current period of 10%. "Disputes arising from the termination of the escrow contract will be heard by the Putian court on December 21."　　"Wang Kingyu said.　　In view of the previous Putian project trusteeship without the question of property management qualifications, the East Hundred group said, Putian project custody part of the property management business is owned by its subsidiary of Fujian East Hundred Property Management Co., Ltd. is responsible for the company has related property management qualifications. "Property management belongs to the control of the Territory, East Hundred group has never been in Putian for property management qualification approval and record." "Putian Construction Bureau's property division told our correspondent," in August, 10 dozen merchants jointly complained about the high charge of the East hundred custody area.　　"The Putian Licheng District Government report also shows that the company that has signed property management contracts with commercial tenants and charged the property charges is Putian East Hundred Business Management Co., Ltd, and no property management contract has been signed with the merchant. But December 2, the director of the East Hundred GroupStaff also said to the media, the company's property management and fire unqualified problems, by the company self-examination does not exist.　　The dispute, the East Hundred group said that the company has made it clear that it does not agree to the dissolution of the lease contract between the two parties, and has reported the incident to the local government, to seek to resolve the dispute through consultation, if not negotiated, will be through legal means to safeguard the legitimate rights and interests October 21, the East Hundred group said that in August, the three companies unilaterally requested the cancellation of the two sides signed the "escrow contract", the company did not recognize, and is actively prepared to legal means to defend their legitimate rights.　　Due to the total amount of related expenses under the escrow contract has not reached 10% of our net profit, no interim information disclosure is made according to the relevant regulations of SSE.　　However, the Securities and regulations of listed companies 32nd stipulates that after the disclosure of major events, the disclosure of major events may have a significant impact on the securities of listed companies and their derivatives trading prices of progress or changes, should be timely disclosure of progress or changes in the possible impact.　　However, to belong to the major contract Putian leasing, trusteeship projects have changed, the East Hundred group did not mention the impact of this.　　Future concerns in addition to the closure of the Putian project, East Hundred group's main source of profit-East hundred building and Oriental Department store business, also face the variables. "The profit of the East Hundred group also has an impact on the construction of the subway project in Fuzhou."　　"said the person concerned.　　Fuzhou Subway line Line 1 East corner station set up 4 entrances and exits, one is located in the East Hundred old buildings, the need to demolish the East Hundred building 30% of the East Hundred old buildings, and this Fuzhou once landmark building will be demolished before the end of the year.　　According to the Fuzhou Subway construction plan, subway line Line 1 East Block station is the most complex project, the longest duration of one of the control site, the station set up 4 entrances and exits, in addition to the East Hundred old buildings, 3rd entrance is also located in the East department store door Small Square. "East Hundred Building and Oriental Department store are the main profit source of East hundred group." "The experience of building subways from all over the city," said the market personage, "the construction of the subway fence and traffic control will undoubtedly affect the department store sales in the region."　　According to Fuzhou Local media reported that the East Hundred group has been to the Fuzhou Department of the East Hundred old buildings to rebuild the plan, hope that the East hundred old building reconstruction work and subway East Block station construction synchronized, 2 years to complete. However, although the market for the East Hundred group due to the construction of the subway in Fuzhou, there are divergent views, but the East Hundred group has not been given a description.