Author: Zhuang Dongqi 2021-06-21
Zhitong Finance APP learned that on June 21, Jiakai City (000918.SZ) issued an announcement that its controlling shareholder Guangzhou Kailong has signed a “Share Transfer Framework Agreement” with Shenzhen Huajian Holdings and intends to transfer 29.9% of Jiakai City’s equity. This means that Evergrande will no longer control Jiakai City after the transaction is completed. As of 15:08, it had risen 9.79%, the price was HK$10.88, and the turnover was 344 million.
The analysis believes that Evergrande (03333) has been working hard to solve the horizontal competition between the two companies since it entered Jiakai City in 2016, and promised to resolve it before July 31, 2021. In order to protect the interests of small and medium shareholders, after Evergrande’s transfer of 29.9% equity in Jiakai City, Jiakai City can continue to engage in its main business to enhance its ability to continue operations. Evergrande can also withdraw funds to further replenish the cash flow, which can be described as a win-win situation.