Wholly-owned Wuhan Golden Seahorse Real Estate

Hong Kong Holdings (600162) announced that the company intends to acquire the Wuhan Golden Seahorse Real Estate Co., Ltd., 30% stake in the acquisition amount of 13,416 340,000 yuan, the acquisition of the completion of the takeover, the company will wholly-owned Wuhan Golden Seahorse. The announcement shows that Wuhan Golden Seahorse main development and operation of "Central Building Materials Home Procurement Center" project. Wuhan Golden Seahorse Real Estate Co., Ltd. was funded by Shenzhen Golden Seahorse Industrial Co., Ltd. 70 million yuan (the total registered capital of 70%) and the company invested 30 million yuan (total registered capital of 30%) to form a partnership.　　2007, Shenzhen Golden Seahorse Industrial Co., Ltd. and the Hong Kong Holdings signed a transfer agreement, will be held in Wuhan Golden Hippocampus 70% Equity transfer to the Hong Kong holdings, and on December 26, 2007, the process of business change. The Company believes that the acquisition of this stake will help Wuhan Golden Seahorse operating stability. In addition, Wuhan Golden Seahorse has a very advantageous geographical and regional location, the region's commercial economy has a broad prospects for development, the company has been on the future development of Wuhan Golden Seahorse confidence. In order to wholly-owned Wuhan Golden Hippocampus equity, continue to do strong commercial properties, more access to Wuhan golden hippocampus in the future property appreciation of the benefits, the company decided to exercise shareholders first purchase rights, the acquisition of the company held Wuhan Golden Hippocampus 30% of the equity. After the completion of the acquisition of equity, is conducive to further do a strong business-friendly property, improve profitability.