Jin Jiang Hotels announced that it plans to transfer 100% of the equity it directly and indirectly holds in Jin Jiang Food to the related party Jin Jiang City Services for a consideration of 24.67 million yuan. This transaction constitutes a related-party transaction and is expected to generate a pre-tax gain of approximately 13 million yuan. Upon completion, the company will no longer hold any equity in Jin Jiang Food.
Shanghai Jin Jiang International Hotels Development Co Ltd BTransfer of Jin Jiang Food for 24.67 million yuan generates pre-tax gain of ~13 million yuan.
