Fufeng Group Limited announced an asset transaction involving the development of a parcel of land by Qingdao Yijing. Under the agreement, Qingdao Yijing will construct properties according to the instructions of Shandong Fufeng, Fufeng Marketing, and Qingdao Wanchuang. In return, Junan Zhifeng and Linyi Chengchuang will transfer their interests in Qingdao Yijing to the Fufeng subsidiaries in three tranches. The construction project, financed by Junan Zhifeng and Linyi Chengchuang without interest, has an expected contract amount of RMB355,000,000, with a maximum not exceeding RMB365,650,000.
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