GREENTOWN SER (02869.HK) announced that its subsidiary Hangzhou Chunyue has entered into an equity and debt transfer agreement with the subsidiary of GREENTOWN CHINA (03900.HK), which holds an indirect stake in Hangzhou Yijin Investment, to acquire 25% equity and shareholder loans of Hangzhou Jiancheng for 0.222 billion yuan.

Upon the completion of the acquisition and the acquisition by GREENTOWN Holdings, Hangzhou Jiancheng will be held by Hangzhou Chunyue, Zhejiang Green Medical Asset Management, and GREENTOWN Holdings with 45%, 40%, and 15% interests, respectively.

The Group believes that Hangzhou Jiancheng holds relatively high-quality underlying assets, and the properties in the investment project have been fully constructed and have signed lease agreements with tenants, which will be entirely rented to government Institutions for anticipated hospital Operation and use. Given that the tenant is a government Institution and the expected use is for hospital Operation, it possesses strong performance capability, credibility, and stability.

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