Jinmao Property Services Unit to Buy Energy Firm from Associate

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Jinmao Property Services' (HKG:0816) unit Sinochem Jinmao Property Management (Beijing) agreed to acquire Jinmao Lvjian Technology (Chongqing) from Shanghai Jinmao Investment Management Group for 258 million yuan.

The target firm is in the business of energy operation and maintenance, according to a Wednesday filing with the Hong Kong bourse.

Shanghai Jinmao Investment Management is a unit of China Jinmao Holdings Group (HKG:0817), the immediate controlling shareholder of Jinmao Property Services.

The Chinese property manager said the energy operation and maintenance business is an "important part" in managing technology-enabled residences.

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