Opinion Real Estate Network News:October eighthCentury Jinhua Commercial Holdings Co., Ltd.The announcement announced that two properties would be put up for sale.

According to the opinion Real Estate New Media, the board of directors of the company announced that Xi'an Honghui property Management Co., Ltd., an indirect wholly-owned subsidiary of the company, intends to sell its two properties through separate public bidding procedures. The two properties are located in Unit 20301, Building 6, Hongji Ziyun District, No. 8 Qujiang Chixi Road, Yanta District, Xi'an City, and Unit 20101, Building 2, Building 2, overseas Chinese Town, No. 2 Beichitou second Road, Yanta District, Xi'an.

The initial tender prices for property 1 and property 2 are RMB7.1514 million and RMB11.5422 million respectively, which are determined by reference to the assessed value of property 1 and property 2 with reference to independent valuers.

It is reported that the group mainly operates department stores, shopping malls and supermarkets. Due to the upward trend of the property market in Xi'an, it initially acquired properties 1 and 2 for investment. However, these properties have been idle for many years since the acquisition. Therefore, the company intends to implement a potential sale, which, if successful, can provide more cash flow and strengthen the general working capital of the Group.

According to previous reports by opinion Real Estate New Media, on March 23, Century Jinhua released inside information that the group is expected to record losses attributable to shareholders by about 50.3% during the nine-month period ended December 31, 2020 compared with the year ended March 31, 2020. And, the impairment loss on goodwill and intangible assets for the nine months ended 31 December 2020 decreased by about 22.2% compared with the year ended 31 March 2020, while there was no further impairment of goodwill and intangible assets in the fourth quarter of 2020.