Wei Qiao Textile Sells Its Property For 689 Million Yuan.
December 14th,
Wei Qiao
Textile announced that the property pfer agreement was concluded with the third party Zouping Kaida. Accordingly, Wei Qiao textile agreed to pfer and Zouping Kaida agreed to purchase the property at a cost of 689 million yuan (equivalent to about HK $8 billion 840 million).
The property includes several buildings owned by the group.
The land use right of the land in the property is rented to the parent group after completion.
group
The lease of the land concerned with the parent group will be terminated accordingly.
Wei Qiao textile directors believe that the group did not make such components.
Property
The building is used as a production facility, so the benefit from the sale proceeds is about 516 million yuan (equivalent to about HK $629 million).
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