Upon the completion of the disposal, CIHL (Tianjin) City Development Limited will cease to hold any shares in Beijing Kaiyuan Wanjia. The latter will also cease to be an associate of China International Holdings.
China International Holdings, on Dec 21, announced that it has disposed of its 50% stake in Beijing Kaiyuan Wanjia Management Consulting Company for a cash consideration of RMB2 million ($388,080).
On Dec 18, China International Holdings’ wholly-owned subsidiary, CIHL (Tianjin) City Development Limited, entered into a share transfer agreement with Beijing Kaiyuan Wanjia Management Consulting Company Limited, Beijing Hongkunweiye Property Development Co. Ltd and Yichang Xinshougang Property Development Company Limited to dispose of its shares.
