China Jinmao Holdings Group Limited on 16 June 2026 announced that its indirect wholly-owned unit Beijing Yicheng signed an equity transfer agreement to purchase 51% of Tianjin Timao Property Co., Ltd. and related debt interests of approximately RMB 521.64 million from Jiaxing Congmao for total cash consideration of RMB 884.20 million.
Upon completion, China Jinmao’s stake in Tianjin Timao will rise from 49% to 100%, upgrading the entity from an indirect affiliated company to an indirect wholly-owned subsidiary. The payment will be funded through internal resources and is due within 15 working days of signing.
Transaction pricing was benchmarked against an independent asset-based valuation that placed Tianjin Timao’s net assets at RMB 710.91 million as of 31 December 2025. The deal’s size triggers a “discloseable transaction” classification under Chapter 14 of Hong Kong’s Listing Rules, as the highest applicable percentage ratio exceeds 5% but is below 25%.
Project profile • Location: Hexi District, Tianjin. • Site area: about 108,200 sq.m. • Plot-ratio gross floor area: roughly 226,470 sq.m. • Product: saleable residential units with community facilities. • Construction schedule: full completion targeted for September 2027.
Key financials of Tianjin Timao (China GAAP) • Total assets (31 Dec 2025): RMB 6.57 billion • Net assets (31 Dec 2025): RMB 327.31 million • Profit/(loss) before tax: –RMB 110.85 million (2024); RMB 538.96 million (2025) • Profit/(loss) after tax: –RMB 83.14 million (2024); RMB 404.22 million (2025)
Strategic rationale China Jinmao has been leading daily operations and project development at Tianjin Timao. Taking full ownership is expected to streamline decision-making and secure uninterrupted execution of the Tianjin Hexi residential development. The board views the terms as fair and commercially reasonable and believes the acquisition serves the interests of the company and its shareholders.
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