Bright Real Estate Group Co., Limited entered into an agreement to acquire remaining 30% stake in Bright Food Group Shanghai Dongping Town Farm Co., Ltd. from Bright Food Group Shanghai Chongming Farm Co., Ltd. for CNY 55.2 million.
October 13, 2020
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Bright Real Estate Group Co., Limited (SHSE:600708) entered into an agreement to acquire remaining 30% stake in Bright Food Group Shanghai Dongping Town Farm Co., Ltd. from Bright Food Group Shanghai Chongming Farm Co., Ltd. for CNY 55.2 million on October 13, 2020. Upon completion, Bright Food Group Shanghai Dongping Town Farm Co., Ltd. will become wholly owned subsidiary of Bright Real Estate Group Co., Limited. For the year ended December 31, 2020, Bright Food Group Shanghai Dongping Town Farm Co., Ltd. reported total assets of CNY 87.1 million, total common equity of CNY 86.4 million, operating loss of CNY 7.6 million and net loss of CNY 7.6 million. The transaction is subject to approval from shareholders of Bright Real Estate Group Co., Limited. The transaction is unanimously approved by Board of Directors of Bright Real Estate Group Co., Limited. As on October 29, 2020, the transaction is approved by shareholders of Bright Real Estate Group Co.
BRIGHT REAL ESTATE GROUP CO., LIMITED is a China-based company principally engaged in the development and operation of properties. The Company is involved in residential property businesses and commercial property businesses. Its commercial property businesses include the development and operation of commercial streets, office buildings and hotels. The Company is also engaged in the provision of property management services, leasing services and cold chain logistics related services. The Company operates its businesses in East China, Central China, South China and Hong Kong.
Bright Real Estate Group Co., Limited entered into an agreement to acquire remaining 30% stake in Bright Food Group Shanghai Dongping Town Farm Co., Ltd. from Bright Food Group Shanghai Chongming Farm Co., Ltd. for CNY 55.2 million.
BRIGHT REAL ESTATE GROUP CO.,LIMITED 
