Sino-Thai shares jointly develop Hangzhou real Estate

China major shares (600704) announced that recently, the company's holding subsidiary of the large Real Estate Group Co., Ltd. and Hangzhou Yintai Austrian Business Development Co., Ltd. signed the Agreement on cooperation in the project,　　Hangzhou Yintai intends to participate in the investment and cooperative development of Hangzhou Land Project company by means of the shareholding of the project company or the increase of capital to the project company, and to develop the professional advantages in commercial operation and real estate development, and to enhance the operational efficiency and investment return of the project. March 24 This year, the Chinese real estate through the public auction of Hangzhou, a block of state-owned land use rights, the land area of 37,860 square meters, for commercial office space, the use of the annual period of 40, the floor area of 189300 square meters.　　In the September 20 of this year, the land has registered the establishment of the site in Hangzhou, the great Saint Ma Square Co., Ltd., registered capital of 50 million yuan, of which the large real estate investment of 45 million yuan, accounting for 90% of registered capital, other natural persons shareholder total 5 million yuan, accounting for the registered capital of 10%. Under the cooperation agreement, the Sino-large real estate intends to transfer the agreement to the Hangzhou Yintai Transfer Project company 40% of the equity, or in the way of increasing capital participation in the project company. When the equity transfer or capital increase is completed, the shareholding structure of the project company is adjusted as follows: 50% of the major real estate, Hangzhou Yintai accounted for 40%, and other natural person shareholders accounted for 10%.