Wing Yip Real estate 240 million transfer Oriental overseas project

Shanghai United Property Exchange listed the date of the listing, Shanghai Wing Yip Co., Ltd. is to transfer Shanghai Oriental Overseas Wing Real Estate Co., Ltd. 11% Equity and 5.28 million-dollar debt, the listing price of 241.1394 million yuan.　　People familiar with the matter said that Wing Yip Real estate wants to complete the capital increase after the transfer of equity. Shanghai SEHK related people, the target company Wing Yip Real estate development projects include five buildings totaling about 79,000 square meters of apartments and a total of about 66,000 square meters hotel. The project is in a prime location. The first stage apartments are under construction, the hotel's construction and management plan is still in the optimization phase, construction cycle and investment return cycle longer, the demand for funds is greater. Accordingly, the Board of Directors of the company decided to increase the company's registered capital from USD 88 million to USD 186 million in due course according to the characteristics and needs of the project development, and the total investment increased from USD 176 million to $372 million.　　Shareholders should contribute proportionately. The announcement shows that the Hong Kong shareholder of Wing Yip Real Estate, Orient Overseas (Shanghai) Investment Co., Ltd. has proposed the exercise of priority rights under the same conditions as the reservation of the subject of the assignment.　　The company's shareholders have pledged their shares (including the 11% per cent of the transfer) to HSBC as a bank loan guarantee, and the bank has now agreed to the transfer of shares in the Shanghai Stock Exchange. Upon request, the transferee shall pay the transfer directly to the transferor within 7 working days after the transfer of the shares is approved by the Shanghai Business Council and the relevant approving department.　　In addition, the transferee is required to loan 5.28 million yuan to the target company as a shareholder loan, which should be in place before the transferee deals with the relevant industrial and commercial change procedures involving the transfer of this share. Data show that Shanghai Oriental Wing Real Estate Co., Ltd. was founded in 2002, the main business in the leased land to engage in commercial housing development, sales, rental, property management and hotel construction and management. Shanghai Yong-Industry Co., Ltd. shares 12%. By the end of 2008, the company's total assets of 2,517,239,100 yuan, the total liability of 426.9678 million yuan, the owner's equity of 2,090,271,400 Yuan.　　The previous year operating income of 146,000 yuan, operating profit-16.5965 million yuan. The company's shareholder strength and background are quite strong. Public information shows that OOCL is rooted in Hong Kong and has entered the mainland in 1993 and established Orient Overseas Development (China) Limited.　　November 2001 Shanghai established a wholly-owned subsidiary of Orient Overseas Investment (Shanghai) Co., Ltd., as the flagship of real estate development in the mainland, but also the integration of future development projects. OOCL has invested in a number of advanced property projects in Shanghai, Hangzhou and Beijing, including the Dan Fung Court in Shanghai and the Oriental Paris. Xia Fei yuan, Oriental Cambridge? Royal Court Court, East Manhattan? Century Hao Ting, Luwan District Changle Road Project, Hangzhou Xihu Flower Garden, Oriental hao garden, etc., property investment Portfolio, in addition to the focus on the construction of high-grade residential outside , located in Wangfujing Street, the famous northBeijing Oriental Plaza is also a modern office, shopping centre, hotel and residential project for the development of Oriental overseas investment.