Yesterday, Legend Holdings and Sunac China issued a joint announcement that the two parties have signed an agreement that Lenovo Holdings will sell its 42 real estate company shares to Sunac China at a price of approximately RMB13.8 billion. In 2015, Rongke Zhichi’s revenue was 10.36 billion yuan, but its net profit was less than 500 million yuan, a decrease of 22% year-on-year. Source: Curiosity Daily When you cooking ,you will face on some problems .For example, the oven lid is too hot to touch , the fire always crush out,when fired the smoke is big .Our bbq accessories will help you when you search our net. The lid lifter for dutch oven keep safety and put on the lid of an oven during cooking .The smoker box add more special flavour of food.The charcoal box help to fire quickly and less smoke.The fire fan and fire starter help to make a fire easily! Bbq Accessories,Bbq Fan,Plastic Fan,Bbq Hand Fan MEO DEMO CO., LTD. , https://www.meodemo.com
According to the agreement, the 42 real estate projects are located in 16 Chinese cities including Beijing, Tianjin, Chongqing and Hangzhou. The development products include apartments, garden houses, villas and other types. The total land area is about 6.94 million square meters. About 18.02 million square meters, unsold area of ​​about 7.3 million square meters. After completion of the transaction, Sunac China will hold the interests of the above 42 target companies.
Last year, when Lenovo Holdings went public, we had made relevant reports and its business was divided into six sections, including financial services (Zhengqi, Hankow Bank, UNPROFOR, Suzhou Trust), modern services (Baibu Dental, Gain Logistics, (An Xinshen and pensions), agriculture and food (Jiawo, Fenglian Liquor), chemical and energy materials (Lianhua Chemical, Xingheng Power), and IT industry and housing industry.
In the real estate field, Lenovo Holdings, through its subsidiaries, is the source of income that is second only to the IT business. However, in 2014, due to policy restrictions, the real estate business did not work well. In 2014, Rong Zhizhi had a loss of 750 million yuan. 
According to the financial report for the first half of this year, Legend Holdings’ revenues reached RMB 134.99 billion and net profit of RMB 2.6 billion, a decrease of 36% from the same period last year. The profit contributed by the real estate sector was 365 million yuan, a decrease of 1.083 billion yuan over the same period of last year, a drop of 75%. The proportion of profits in this sector also fell to 14%, compared to 36% in the same period of last year.
The financial year-on-year decline of Rongji Zhidi may be the main reason for Lenovo to abandon the real estate business.
In addition, Legend Holdings stated that after disposing of 13.8 billion yuan in the real estate business, in addition to repaying the previous 7.5 billion yuan in external debt owed by the real estate development business, the remaining 6.3 billion will strengthen the overall liquidity and financial status of the group. It is important to be able to concentrate more on the development of finance, health care, agriculture and food and innovative consumption.
In fact, as early as March of this year, Liu Chuanzhi, the chairman of Legend Holdings, disclosed that in 2016 and in the future, Legend Holdings will focus on the consumer and service industries. In addition to the main IT industry, the real estate business has a relatively high share in Legend Holdings. To concentrate on developing consumer and service businesses, the best practice may be to sell the real estate business.
For Sunac China, the acquisition is the largest acquisition to date, and the 42 property projects involved are mostly located in the core cities of the first and second tiers, which are in line with its real estate project strategy in recent years, and the acquisition can expand its scope. Land reserves and market share in these cities.
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