China Huirong Secures New Commercial Asset

China Huirong Financial Holdings Ltd. (HK:1290) has released an update.

China Huirong Financial Holdings Ltd. has expanded its portfolio by acquiring the Hongzhuang Commercial Property in Suzhou for RMB70,833,420 through its subsidiary, Huifang Hezhong. This purchase, following a public auction, is a discloseable transaction that meets the Hong Kong Stock Exchange’s notification requirements due to its significant size. An independent valuation set the property’s value at RMB78,703,800, with the income approach as the chosen valuation methodology.

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