Capital of Grandjoy's Subsidiary Raised by 1.50 Billion Yuan

MT Newswires Live2025-01-13

Grandjoy Holdings Group's (SHE:000031) unit, COFCO Real Estate Group Shenzhen Real Estate Development, increased its capital in its real estate subsidiary, Shenzhen Jinfengcheng Real Estate Development, by 1.50 billion yuan, according to a Shenzhen Stock Exchange disclosure on Jan. 10.

The purpose of the capital raise is to optimize Jinfengcheng's capital structure, reduce its asset-liability ratio, improve its financing capabilities, meet its business development needs, and be in line with the company's strategic planning and long-term interests.

After the completion of the transaction, Jinfengcheng's capital will rise to 1.60 billion yuan from 98.1 million yuan, the Chinese real estate developer said.

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