rajafreespins| Financial Street: Selling two hotels in Tianjin and Huizhou to controlling shareholders, resulting in a total loss of 204 million yuan

On May 24, Financial Street issued an announcement that it would sell a company located in Guangdong ProvincerajafreespinsEquity and creditor's rights of Sheraton Huizhou Hotel and Financial Street Jinmen (Tianjin) Real Estate Co., Ltd. The transaction price is paid in cash, and the total transaction consideration is 7rajafreespins.92 million yuan, the transaction will bring a loss of 204 million yuan to Financial Street.

The announcement shows that the buyers of both transactions are Beijing Jinhao Real Estate Development Co., Ltd.(hereinafter referred to as "Jinhao Company") indirectly held by Beijing Financial Street Investment (Group) Co., Ltd.(hereinafter referred to as "Financial Street Group"), the controlling shareholder of Financial Street. Transfer matters will help the company withdraw funds and improve the company's asset turnover efficiency and solvency.

Financial Street said that the company continues to promote the optimization of the self-sustaining property structure. In the past three years, the company has negotiated with multiple groups of market customers on the above-mentioned transfer matters, but none of the customers have expressed a clear intention to purchase. Financial Street Group is a wholly-owned company, and Jinhao Company is the main management entity of its hotel business segment. According to business development needs, Jinhao Company negotiated with the company to purchase at a fair evaluation price, which is conducive to further implementation of professional management.