Cheng Loong Corp.'s subsidiary, Suzhou Cheng Loong Paper Co., Ltd., announced the sale of its factory and land use rights in Suzhou to Suzhou Jujie Special Materials Co., Ltd. for 186 million RMB. The transaction is aimed at revitalizing assets, bolstering funds, and improving the financial structure, with an expected gain of approximately 135.18 million RMB.
1. Target Asset: Land use rights and factory located at No. 162, Taishan Road, Suzhou New District.
2. Transaction Date: May 21, 115.
3. Asset Scale: Land area of 99,740 square meters (approx. 30,171 pings); Building area of 63,846.92 square meters (approx. 19,313 pings).
4. Transaction Price: 186 million RMB.
5. Counterparty: Suzhou Jujie Special Materials Co., Ltd. (Non-affiliated).
6. Objective: To revitalize assets, strengthen funds, and improve financial structure.
7. Valuation: Valued at 184.92 million RMB by Dongguan Dongxindeli Asset Real Estate Land Appraisal Co., Ltd.
FACT BOX
- Source: PR Times
- Category: News
- Dates in source: 115/5/21
FAQ
What assets did Suzhou Zhenglong Paper Industry sell?
The assets include the land use rights and buildings (factory) located at No. 162 Taishan Road, Suzhou High-Tech Zone. The land area is approximately 99,740 square meters (about 30,171 tsubo), and the building area is approximately 63,846.92 square meters (about 19,313.7 tsubo).
What is the total sale amount and the estimated profit from the sale?
The total sale amount is 186 million RMB, and the estimated disposal profit is approximately 135.18 million RMB.
Who is the buyer?
The buyer is Suzhou Jujie Special Materials Co., Ltd., which is not an affiliate of Zhenglong.
What is the purpose of this sale?
The purpose is to effectively utilize the assets, replenish funds, and improve the financial structure.
What is the basis for determining the price?
The price was determined through negotiation based on the evaluation report by Dongguan Dongxin Deli Asset Real Estate Land Appraisal Co., Ltd., an external professional appraisal agency.