China Fortune Properties Co.,Ltd completed the acquisition of Shanghai Jinling Investment Co., Ltd. from Shanghai Chinafortune Co., Ltd..
March 26, 2023
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China Fortune Properties (Group) Co.,Ltd agreed to acquire Shanghai Jinling Investment Co., Ltd. from Shanghai Chinafortune Co., Ltd. (SHSE:600621) for approximately CNY 200 million on October 28, 2022. Shanghai Jinling has a total assets of CNY 249 million and net assets of CNY 192 million as of September, 2022. The Board of Shanghai Chinafortune approved the deal. As of March 28, 2023, on December 13, 2022, the Shanghai China fortune received 30% of the transfer payment of 58.64 million from China Fortune Properties (Group), on December 27, 2022, Shanghai Chinafortune received 21% of the transfer payment. On December 28, 2022, Shanghai Jinling Investment Co., Ltd. completed the change of articles of association. On March 27, 2023, Shanghai Chinafortune received a 49% equity transfer payment (final payment) of CNY 95.78 million from China Fortune Properties (Group) Co.,Ltd.
China Fortune Properties (Group) Co.,Ltd completed the acquisition of Shanghai Jinling Investment Co., Ltd. from Shanghai Chinafortune Co., Ltd. (SHSE:600621) on March 27, 2023.
Shanghai Chinafortune Co., Ltd is a China-based company mainly engaged in securities business. The Company's main business includes brokerage business, asset management business, self-operated business, NEEQ (National Equities Exchange and Quotations) business and margin margin financing and securities lending. Brokerage business includes securities and futures brokerage business, agency sales of financial products, etc. Asset management business includes collective asset management, directional asset management, and special asset management business. Self-operated business includes investment trading of equity securities and derivative financial instruments and NEEQ market doing business with its own funds. NEEQ business includes corporate listing services and financial advisory services. Margin financing and securities lending business include margin financing and securities lending business, stock pledged repurchase business, and agreed repurchase securities business.
SHANGHAI CHINAFORTUNE CO., LTD. 
