Jihua Group (601718): The Subsidiary Intends To Entrust Xinxing Jianxin Company To Develop And Manage Relevant Project Plots

Jihua Group (601718) announced on the evening of October 9 that the company plans to transfer its subsidiaries Chongqing Jihua destination Center Industrial Co., Ltd., Changchun Jihua investment and Construction Co., Ltd The management rights of some shareholders of the three companies of Shaanxi jihuayuan development and Construction Co., Ltd. ("the target company") are entrusted to Xinxing Jihua Asset Management Co., Ltd. ("asset management company"), a wholly-owned subsidiary of Xinxing Jihua Group Co., Ltd. ("Xinxing Jihua Group"), and signed the "entrusted operation and management agreement of jihuayuan" with the asset management company.

The entrusted management is a specific measure for the company to implement the requirements of "opinions on further improving the quality of listed companies" issued by the State Council, and gradually withdraw from non main business and non advantageous business, which is conducive to the company to concentrate superior resources for the development of core business, further focus on real business and enhance core competitiveness.