Information on Beijing Chenyu Real Estate Sample Clauses

Information on Beijing Chenyu Real Estate. Beijing Chenyu Real Estate is a limited liability company incorporated in the PRC, in which the Company indirectly holds 51% equity interests and Beijing BBMG Property holds 49% equity interests. The principal activities of Beijing Chenyu Real Estate are real estate development; sales of self-developed commercial properties; leasing of office premises and commercial premises; real estate brokerage; property management; residential leasing; and operation and management of motor vehicle public parking lot. IMPLICATIONS UNDER THE LISTING RULES Beijing Chenyu Real Estate is 51% owned by the Group and 49% owned by Beijing BBMG Property. Beijing BBMG Property is a wholly-owned subsidiary of BBMG. Accordingly, both Beijing BBMG Property and BBMG are connected persons of the Company at the subsidiary level. The funds collection by Beijing Chenyu Real Estate for BBMG constitutes a connected transaction of the Company under Chapter 14A of the Listing Rules. As one or more of the applicable percentage ratio(s) calculated pursuant to Rule 14.07 of the Listing Rules exceed(s) 1% but is (are) less than 5%, the Company is subject to the reporting and announcement requirements in respect of the transactions under the Funds Collection Agreement, but exempt from the circular, independent financial advice and shareholders’ approval requirements.
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