China New Town Development Co., Ltd
China New Town Development Participates in Urbanization Project through Investment Partnership – Rapid Project Launch with High Return and Low Risk
China New Town Development Participates in Urbanization Project through Investment Partnership – Rapid Project Launch with High Return and Low Risk There was a series of good news recently for China New Town Development Co., Ltd. (“China New Town” or “CNTD” or the “Group”, Stock Code: 1278.HK). Subsequent to the Strategic Cooperation Framework Agreement with Sino IC Investment in the end of May and the establishment of the CDB (Beijing) New-Type Urbanization Development Fund in the middle of June, leveraging off the extensive project pipeline and network resources of China Development Bank Capital Corporation Limited (“CDB Capital”), the first project was rapidly launched within one month of entering into the Partnership agreement. It is likely this strong business momentum will continue into foreseeable future and uncovering the Company’s excellent prospect. As just announced, the Group will inject RMB 4,500,000 to the CDB (Beijing) New Type Urbanization Development Fund to invest in Luzhou shanty-town reformation project. Luzhou is located in the south-east of Sichuan Province, and it has achieved a GDP of RMB 126 billion in 2014, the third year in a row of over RMB 100 billion with growth economic indicators ranking among the highest in Sichuan Province. This project is the major shanty town reformation project, and has been included in the 10-million-unit national shanty town reformation plan. Luzhou Jiangnan Construction and Investment Company (“Jiangnan Company”) has been designated as the project company. CDB (Beijing) New Type Urbanization Development Fund (the “Partnership”), amounting to RMB 10 billion initiated by CDB Capital, focuses on old town reformation, shanty town reformation, primary land development and integrated land and property development. It will also explore investment opportunities in municipal facilities, such as water supply, waste disposal, environment protection, public utilities, etc. The partnership intends to contribute RMB 300 million of capital to Luzhou Jiangnan Construction Development Company Limited (the “Project Company”) for a period of four years. China New Town, as the junior-tranche limited partner, proportionally contributes 1.5% of the total amount. Project Supported by National Policy with High Security Annual Return Almost 50% Rapid Project Launch We believe in the future along with more investment projects launching in succession, our Group is able to participate in more diversified urbanization projects nationwide with relatively low investment amount. While enjoying a high return on investment, we have the opportunity to explore other downstream business, solidifying the Group’s investment model while enhancing the project diversification and economy of scale. As PRC’s leading investment institute in urbanization, CDB Capital, our controlling shareholder, is fully committed to helping China New Town to rapidly expand its project network and business scale, to accelerate our value creation to shareholders. End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=AMXLBVCRJC Document title: China New Town Development Participates in Urbanization Project through Investment Partnership – Rapid Project Launch with High Return and Low Risk Key word(s): Real Estate 21/07/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com |
379421 21/07/2015 UTC+8 |