Western Securities Taps Related Party for Office Renovation, Data Center Construction
MT Newswires Live
Apr 02
Western Securities (SHE:002673) agreed to entrust related party Shaanxi Jintai Hengye Real Estate for the renovation of its Chanba office and construction of its data center, according to a Shenzhen bourse filing on Thursday.
Jintai Hengye is a subsidiary of the company's controlling shareholder, Shaanxi Investment Group.
The office renovation works will cost 146.6 million yuan, while the data center construction will amount to 68.7 million yuan.
The securities services provider's shares dropped over 2% during morning trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.