Summary by Futu AI
Shenzhen International (Stock Code: 00152) announced on June 27, 2024 that its subsidiary, Pingshen International debt-for-equity swap, was completed on June 14, 2024. This related transaction increased the shareholding ratio of Bay Area Investments to approximately 80.92%, and Pingshen International continues to operate as a non-wholly owned subsidiary of Shenzhen International. The increase in the amount and equity ratio of the debt-for-equity swap is based on the development plan, funding requirements and prospects of the Pingshan project in Shenzhen, and refers to the assessment of independent professional appraiser Shenzhen Pengxin Asset Assessment Land Real Estate Appraisal Co., Ltd. based on the asset-based method for the shareholder equity of Pingshen International on November 30, 2023. The assessment shows that after adjusting the value...Show More