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The latest announcement is out from China Overseas Grand Oceans Group Limited ( (HK:0081) ).
China Overseas Grand Oceans Group Limited has moved to consolidate full control of two Hefei real estate projects in Anhui Province by acquiring the remaining 40% equity interests in Hefei Project Company I and II from partner Shenzhen Chuanggu for RMB104.1 million. The projects, which COGO Hefei already controlled with 60% stakes, will become indirect wholly owned subsidiaries after completion, keeping their financial results fully consolidated while simplifying the group’s ownership structure and potentially enhancing operational coordination and strategic flexibility in the Hefei market.
Because Shenzhen Chuanggu is a substantial shareholder in the project companies, the deal is classified as a connected transaction under Hong Kong’s listing rules, but its size means it only triggers an announcement requirement and is exempt from issuing a circular or obtaining independent shareholders’ approval. The transaction follows exit provisions in a 2019 cooperation agreement that allowed Shenzhen Chuanggu to withdraw once certain conditions were met, indicating a planned evolution of the joint venture and a shift to sole ownership by China Overseas Grand Oceans over these Hefei developments.
The most recent analyst rating on (HK:0081) stock is a Buy with a HK$2.65 price target. To see the full list of analyst forecasts on China Overseas Grand Oceans Group Limited stock, see the HK:0081 Stock Forecast page.
More about China Overseas Grand Oceans Group Limited
China Overseas Grand Oceans Group Limited is a Hong Kong-incorporated property developer focused on residential and mixed-use projects in mainland China. Through its subsidiaries, the group develops and manages real estate projects in various Chinese cities, including ongoing developments in Hefei, Anhui Province, positioning it as an active participant in the mainland urban property market.
Average Trading Volume: 10,950,452
Technical Sentiment Signal: Buy
Current Market Cap: HK$8.61B
See more data about 0081 stock on TipRanks’ Stock Analysis page.