On February 1, China South City Holdings announced that it was considering about 30 Xi'an South China City through public bidding65% equity (adjustable to 38.)70%）。
The tender notice was published in the company** on February 1, 2024 and will expire on February 6, 2024. If there are no qualified bidders, the tender period may be extended.
No consideration has been determined for this potential matter and no sale and purchase agreement has been signed. **The proceeds will be used to repay loans and general working capital to ease cash flow constraints, the company said.
According to the announcement, Xi'an South China City is mainly engaged in the development and operation of a comprehensive trade logistics and commodity trading center, located in Xi'an International Port Area, and has been put into operation. Its unaudited gross consolidated assets as at September 30, 2023 were approximately 895.4 billion yuan.
In the official report, the volume of South China City is 17.5 million square meters, and later introduced on the official website of South China City, the volume of South China City has become 10 million square meters.
After the completion of South China City, the total investment of the project will be more than 20 billion yuan, with a construction area of more than 17.5 million square metersIt can settle in 100,000 merchants, which will achieve a turnover of 150 billion to 200 billion yuan, a tax revenue of more than 5 billion yuan, and provide 100,000 entrepreneurial opportunities, 400,000 direct jobs and 1 million indirect jobsIt will become the largest industrial raw materials, commodity distribution center and comprehensive logistics center in the western region and even in China.
On December 16, 2023, according to the report of "Jiemian News": The investment and operation of Shenzhen Shenji No. 1 Industrial Park was learned through the penetration of equity layers that the major shareholders behind the company are Cinda Assets and Shenzhen Special Economic Zone C&D) agreed to subscribe for about 6935% of the shares, after the closing, China South City Group will hold about 3065% equity.
Note that even Xi'an South China City finally succeeded**386988% equity, the shareholding ratio of Shenji No. 1 Industrial Park Investment will be reduced to about 60%, and it will still be the largest shareholder.
Although the current problem facing South China City is the dual dilemma of the market and enterprises, as the largest commercial entity outside the Third Ring Road of Xi'an, it still hopes that South China City can get out of trouble quickly!
Information**: Xi'an TV station, news reports, agency announcements.
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