Jiayuan International Foray into Shanghai Acquires Three Prime Shanghai Properties from Chairman


On June 5, 2018, Jiayuan International (hereinafter referred to as the “Group”) was pleased to announce the signing of the sale and purchase agreement with the Chairman of the Group, Shen Tianqing, for a consideration of approximately RMB 560 million for the acquisition of its privately held project equity in Shanghai. After the transaction is completed, the Group will hold a 90% interest in the Shanghai project through the Target Company.

The three projects held by the target company injected in this time are located in Fengxian District, Shanghai, China and east of Pudong New Area. Among them, “Shenjing Huating” and “Best Capital” are completed residential projects. The remaining parts are of high quality. Assets such as hotels, pension apartments and commercial facilities will be used as self-contained properties of the Group; while “Jiayuan Dream Plaza” is a residential complex under development, the surrounding development of the project is mature, public facilities and transportation facilities are relatively complete, and high quality schools are available. The network, with excellent asset quality, is expected to provide the Group with abundant sales cash flow.

The transaction will provide a good foundation for the Group to enter the real estate market in Shanghai, and it will play a positive role in consolidating the influence of the Jiayuan brand in the Yangtze River Delta Economic Zone, and it will also achieve the strategic goal of “achieving a foothold in Shanghai and radiating surrounding cities”. Solid steps have been taken to further expand the Group’s land bank in China.