Xingyue Health Travel (03662) subsidiary plans to acquire all shares in Guangzhou Puhou Property for 600,000 yuan

Zhitong Finance App News, Xingyue Travel (03662) issued an announcement. On November 26, 2024 (after the transaction period), the seller signed an equity transfer agreement with the buyer Guangzhou Xinmei Smart Life Service Co., Ltd. (an indirect wholly-owned subsidiary of the company). According to this, the seller has conditionally agreed to sell in accordance with the terms and conditions of the share transfer agreement, and the buyer has conditionally agreed to acquire all of the shares of the target company Guangzhou Pu Hou Property Co., Ltd., at a cash cost of RMB 600,000.

According to the announcement, the Group mainly provides property management services and commercial operation services for properties developed or owned by real estate developers. The Group has always focused on developing property management, commercial operations and other related businesses, and expanding value-added businesses. At the same time, it is actively exploring new business formats such as cultural tourism and healthcare, continuously broadening revenue channels and increasing the Group's revenue.

These properties are conveniently located in Tianhe District, which is one of the most important commercial centers in Guangzhou. The Group will hold such properties for personal use and investment through acquisitions and capital injections, and can rent out such properties after delivery to obtain rental income. Since the purchase price per square meter of such properties in judicial auctions is lower than the market price, it is considered that there is potential for asset appreciation. By using some of these properties as private offices and leasing the remaining portion, the Group expects to benefit from savings in rent and operating costs as well as gains from asset appreciation. Based on the foregoing, the Board believes that the acquisition and capital injection will have a positive impact on the Group.