Gelonghui, August 31, 丨 Wolong Real Estate (600173.SH) announced that on June 3, 2017, the company signed the “Equity Transfer Agreement between Wolong Real Estate Group Co., Ltd. and 3 companies including Chen Jinhai, Ge Kunhong, and Guangzhou Dongjing Computer Technology Co., Ltd. on Guangzhou Junhai Network Technology Co., Ltd.” with 3 companies including Chen Jinhai, Ge Kunhong, and Dongjing Technology Co., Ltd. According to the “Equity Transfer Agreement”, Chen Jinhai and Ge Kunhong shall each subscribe for corresponding shares of Wolong Real Estate through acquisition from the secondary market with part of the transaction price obtained from the transfer of Junhai Network shares under this transaction.
The increase price for Chen Jinhai's holdings was not less than 60 million yuan, Ge Kunhong's increased holdings price was not less than 20 million yuan, and the total increase price for Chen Jinhai and Ge Kunhong to increase their holdings of listed companies was not less than 80 million yuan. Chen Jinhai and Ge Kunhong shall, within 12 months from the effective date of the “Equity Transfer Agreement” (June 21, 2017), increase their shares in the company by increasing the holding price as agreed in this section. According to the “Equity Transfer Agreement”, Chen Jinhai and Ge Kunhong increase their shares in the company for a period of three years, and the corresponding shares cannot be transferred until 36 months from the date the corresponding shares are registered under the names of Chen Jinhai and Ge Kunhong until they expire.
From July 27 to August 4, 2017, Chen Jinhai increased his total holdings of the company's shares by 880.0019 million shares through the Shanghai Stock Exchange trading system, and Ge Kunhong increased his total holdings of the company's shares by 2,8789.43 million shares through the Shanghai Stock Exchange trading system from August 7 to August 29, 2017.
As of the date the announcement was issued, the company shares held by Chen Jinhai and Ge Kunhong have been locked for three years. From now on, the company shares held by these two companies will be unlocked.