The integration of Shanghai state-owned assets further: on the real holding of the real development of equity

NetEase Finance August 16 news on the real development of the evening notice, the company's controlling shareholder in Shanghai intends to transfer 690 million shares of its holding company to real Holding, 63.65% of the company's total equity, and the real holding is the direct holder of the subject's shares in its wholly-owned Hong Kong subsidiary.　　In consultation with Shanghai Real and real holding, the transfer price of the shares is based on the average value of the daily weighted average price of the company on 30 days before the signing of the share transfer agreement, which is 7.44 yuan/share, a total of 5.13 billion yuan. The controlling shareholder and the actual control person of the real holding company are the real group, the controlling shareholder of the real investment development is Shanghai, the actual control person is the real group.　　The real group is a wholly-owned subsidiary of SASAC in Shanghai.　　The equity control relationship is shown in the following figure: After the acquisition is completed, on the real holding will be through the field production to hold the real development of 63.65% of the equity, become the real development of the controlling shareholder, on the real holding and the real investment development total will hold the real development of 67.96% of the equity. Because of historical reasons, the distribution of real estate business is scattered, there are different degrees of overlap and overlapping, which leads to the lack of comprehensive integration of industrial resources and the full play of synergy effect.　　This acquisition is beneficial to the real holding group to accelerate the integration of real estate resources, through the establishment of the overall coordination of the management model, in resources, personnel, finance, decision-making system and other aspects of the unified optimization. This transfer through the agreement to introduce the real holding wholly-owned Hong Kong subsidiary on the field production for the company's strategic investors, in favor of the company with the real holding of foreign capital market advantages, absorbing international advanced corporate governance and enterprise management model, improve the efficiency of asset operation and overall economic benefits, It is advantageous to the company to rely on the advantage of Real Group resources optimization business model, strengthen the brand competitiveness.