Summary by Futu AI
CHINA JINMAO HOLDINGS GROUP LIMITED (STOCK CODE: 00817) ANNOUNCED THAT THE TRANSFER OF ITS FLAGSHIP PROJECT COMPANY WAS COMPLETED ON 4 MARCH 2024 AND THE TOTAL PRICE HAS BEEN PAID. Upon completion of the transaction, Jinmao China effectively holds 34% of the shares in the project company through the relevant REIT. IN ADDITION, THE PROJECT COMPANY WILL NO LONGER BE A SUBSIDIARY OF JINMAO CHINA AND ITS ACCOUNTS WILL NO LONGER BE MERGED INTO THOSE OF JINMAO CHINA. The Company will make further announcements regarding the proposed demerger and proposed listing. The completion of this transaction follows the Company's announcements on October 26, November 28 and December 30, 2023.