Hainan Jinzhong Industrial Development

Yanlord acquires Hainan company for $6.6 mil

SINGAPORE (Mar 15): Yanlord Land Group's subsidiary, Hainan Yanlord Luqiao Investment, has acquired a 100% stake in Hainan Jinzhong Industrial Development for RMB32 million ($6.6 million).

The consideration comprises a cash consideration of RMB10 million and a capital injection of RMB22 million.

The net tangible asset value of Jinzhong Industrial based on the latest management accounts was approximately RMB3 million.

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