Park City shares signed project allocation agreement not announced

Park City shares (600766) January 24 night announced that the company on December 22, 2010 with the Yantai Laishan District Binhai Road Street Jinqiao Community Residents Committee on the joint development of "Oak Bay" project property distribution reached a preliminary distribution agreement. After the signing of the agreement, due to staff negligence, the Secretary of the board and the chief accountant were not notified in time.　　Since then, the company's annual report audit found the situation, the company immediately with the Shandong Securities and Supervision Bureau on the issue of communication, and finally confirmed that the allocation of the above agreement on the allocation of property will have a significant impact on the company's operating performance. The public data show that the "Oak Bay" project developed by the Park City AG and the Jinqiao residents ' committee is due to the planning adjustment and market changes, profitability and investment cycle becoming longer, and the distribution of the benefits of the project between the two parties is not fully defined. After the signing of the above agreement, the Park City shares and Jinqiao residents to adjust planning before the development area reached a preliminary allocation agreement, adjustment planning after the new part of the distribution has not been determined.