Traditional Culture Encyclopedia - Hotel franchise - What are the projects developed by Financial Street Holdings?

What are the projects developed by Financial Street Holdings?

1. Plot F3 of Financial Street (Jinqi Building, 100% equity)

The company is responsible for developing the project, and the company enjoys 100% equity. The project is located at Lot F3 in the central area of ??Financial Street, Xicheng District, Beijing, bounded by Taipingqiao Street to the east, Jinshifang Street to the west, Lot F4 to the south, and Wudinghou Street to the north. The project covers an area of ??10,000 square meters, with a planned construction area of ??98,700 square meters and a floor area ratio of 9.9. The project is a Grade A office building. Construction started in June 2007 and was successfully delivered to China Everbright Bank Co., Ltd. on December 15, 2008. The project was carried forward in 2008. The total investment of the project is expected to be 1.08 billion yuan. The project will bring in sales revenue of 2.3 billion yuan. The land value-added tax will be fully accrued. The project will generate a net profit of 559 million yuan, bringing a net profit of 559 million yuan to the company.

2. Plot A5 of Financial Street (100% equity)

The project is developed by Financial Street (Beijing) Real Estate Co., Ltd., and the company enjoys 100% equity. The project was acquired by the company from Beijing Financial Street Construction and Development Co., Ltd. in March 2006 with a purchase price of 689 million yuan. The project is located in Lot A5, Financial Street North District, Xicheng District, Beijing, bounded by Financial Street to the east, Lot A6 to the west, Wudinghou Street to the south, and Lot A4 to the north. The project covers an area of ??13,800 square meters, with a planned construction area of ??90,000 square meters and a floor area ratio of 6.5. The project started in May 2007, with an estimated total investment of 1.283 billion yuan. It was rented and opened for business in December 2008. The project name is Financial Street Center, which is fully leased as a 5A-level office building. Calculated based on the rent of 8 yuan/square meter/day, with reference to the 70% gross profit margin level of rental properties disclosed in the 2007 annual report, calculated based on the operating life of 38 years, assuming that the growth rate of business income is the same as the discount rate, it is expected that the above rental properties will be sold according to the net profit discount method The company's equity increased by 2.292 billion yuan.

3. Financial Street E1, E2, E6, and E6A plot projects (100% equity)

The company is responsible for developing the project, and the company enjoys 100% equity. The above four projects are all located in the North District of Financial Street, Xicheng District, Beijing. The E1 project covers an area of ??14,000 square meters, with a planned construction area of ??19,000 square meters; the E2 project covers an area of ??9,000 square meters, with a planned construction area of ??24,200 square meters; the E6 project Covering an area of ??7,500 square meters, the E6A project covers an area of ??7,100 square meters, and the planned construction area of ??E6 and E6A is 121,700 square meters. The above-mentioned projects have not yet been included in the company's construction plan in 2008. Assume that all the buildings on the above-mentioned land are rented out, and the rent is calculated at 8 yuan/square meter/day, based on the 70% gross profit margin of the rental properties disclosed in the 2007 annual report, and calculated based on the operating life of 38 years. It is assumed that the growth rate of business income is the same as the discount rate , it is estimated that the above-mentioned rental properties will increase the company's equity by 4.199 billion yuan based on the net profit discount method. Since the start and completion time of the project has not yet been determined, it has not been included in the company's profit forecast for 2008-2010.

4. Beijing Optoelectronic Equipment Factory Land (100% Equity) Qianzhu Intelligent Financial Terminal

The project is located at No. 3 Yuetan South Street, Xicheng District, Beijing, with a construction area of ??8,500 square meters, including 2,500 square meters of office space and 6,000 square meters of commercial area. The project was acquired through an agreement. Calculated based on the average sales price of 26,000 yuan/square meter. Assuming that the project is fully sold, the project is expected to bring sales revenue of 199 million yuan. The land value-added tax will be fully accrued. The project will generate a net profit of 24 million yuan, which will be given to the company. Bringing net profit of 24 million yuan. Since the start and completion time of the project has not yet been determined, it has not been included in the company's profit forecast for 2008-2010.

5. Beijing Datun Project (100% equity)

The company is responsible for developing the project, and the company enjoys 100% equity. The project is located at No. 224 Datun Road, Chaoyang District, Beijing. The company acquired it through bidding in December 2007 for 835 million yuan, with a floor price of 10,200 yuan/square meter. The land use of the project is for residential and public buildings, covering an area of ??26,000 square meters, including 20,600 square meters of construction land and a planned construction area of ??60,600 square meters. The project is planned to start in 2008 and be completed in October 2009.

Due to the high floor price, the profitability of the project is average. If the project is fully sold, based on the average sales price of 17,000 yuan/square meter, the project is expected to bring in sales revenue of 1.247 billion yuan. The land value-added tax will be fully accrued, and the project will generate a net The profit was 22 million yuan, bringing a net profit of 22 million yuan to the company.

6. Beijing Desheng H plot (100% equity)

The project is developed by the company's subsidiary Financial Street (Beijing) Real Estate Co., Ltd., and the company enjoys 100% equity. The project was acquired by the company from Beijing Desheng Investment Co., Ltd. for 301 million yuan. The project is located on the east side of Dewai Street in Beijing, about 500 meters north of Deshengmen. The project uses office buildings and apartments, covering an area of ??12,000 square meters, a construction area of ??83,300 square meters, and a floor area ratio of 5.01. The project started in July 2007 and is expected to be completed before the end of June 2009. The total investment of the project is expected to be 700 million yuan. Calculated based on the average sales price of 2.2 yuan/square meter. If the project is fully sold, the project is expected to bring sales revenue of 1.649 billion yuan. The land value-added tax will be fully accrued, and the project will generate a net profit of 426 million yuan. It brought a net profit of 426 million yuan to the company.

7. Beijing Houshayu Project (100% equity)

The project is developed by Beijing Mengke Real Estate Co., Ltd., a wholly-owned subsidiary of the company, and the company enjoys 100% equity. The project was acquired by the company through the acquisition of Beijing Mengke Real Estate Co., Ltd. for 28 million yuan. At the time of the equity acquisition, the project included 43 acres of construction under construction (the foundation of 30 villas), 217 acres of land, about 165 households that have not been demolished, and a fish pond. and a nursery. The project is located at No. 5, Yuyang Road, Xibaixinzhuang, Houshayu Town, Shunyi District, Beijing, bounded by Shayu South Road in the east, Jiahao Villa in the south, and Xibaixinzhuang in the northwest. The project covers an area of ??163,200 square meters, with a planned construction area of ??65,300 square meters. It is planned to be a villa. The land use right period is from August 9, 1995 to August 8, 2065. The project started in 2004 and is expected to be completed in 2009. Calculated based on the average sales price of 13,000 yuan/square meter, if the project is fully sold, the project is expected to bring sales revenue of 764 million yuan, and the land value-added tax will be fully accrued. The project will generate a net profit of 149 million yuan, bringing a net profit of 149 million yuan to the company. billion.

8. Beijing Tongzhou Business Park (18.75% equity)

The project is developed by Beijing Tongzhou Business Park Development and Construction Co., Ltd., and the company enjoys 18.75% equity. The project is located in the northwest of Tongzhou New Town, 10 kilometers from the Capital Airport to the north and 12 kilometers from the CBD core area to the west. The project has a planned area of ??7.3 million square meters, a construction area of ??nearly 6 million square meters, and a floor area ratio of 0.8. The building forms are mainly low-rise and multi-story buildings, and the greening rate of the park reaches 50%. The first phase of development land is located in the outer ring of Tongzhou New City, covering an area of ??approximately 3 square kilometers. The first phase of development will be carried out on a rolling basis in four blocks, with a total investment of 5.1 billion yuan and is expected to be completed in 2010. The second phase of the project covers an area of ??approximately 2.3 square kilometers and is planned to be completed in 3 to 5 years; the remaining 2 square kilometers of land will be used as reserve land for long-term development. Since the specific development plan of the project is unknown, it was not included in the company's 2008-2010 profit forecast and the company's RNAV revaluation.

9. Tianjin Jinmen Project (100% equity)

The project is developed by Financial Street Tianjin (Jinmen) Real Estate Co., Ltd., a wholly-owned subsidiary of the company, and the company enjoys 100% equity . On August 5, 2005, the company acquired the land use rights for the Jinmen and Jinta projects for 734 million yuan. The project is located on the north side of Heping Square in Heping District, Tianjin. It is a landmark plot of land at the Heping Square node in Haihe Development. The planned business formats of the project include five-star hotels, top-grade apartments and supporting businesses, with a large area of ??gently sloping riverbank green space and Haihe River landscape. The project land area is 31,000 square meters, with a planned construction area of ??approximately 240,000 square meters and a floor area ratio of 4.84. The project started in October 2007 and is expected to be completed by the end of May 2010. The project is expected to sell 112,000 square meters of apartments, 5,100 square meters of commercial space, and 920 underground parking spaces; 60,000 square meters of rental properties and 9,000 square meters of underground commercial space. The total investment of the project is expected to be approximately 1.773 billion yuan. Calculated based on the average sales price of 17,000 yuan/square meter, if all apartments, above-ground businesses, and underground parking spaces are sold, the project is expected to bring in sales revenue of 2.178 billion yuan, and the land value-added tax will be fully accrued. The apartment part of the project generated a net profit of 489 million yuan, bringing a net profit of 489 million yuan to the company.

The hotel rent is calculated at 4 yuan/square meter/day, based on the 70% gross profit margin of rental properties disclosed in the 2007 annual report, and calculated based on the operating life of 38 years. Assuming that the growth rate of business income is the same as the discount rate, it is expected that the rental properties of the project will be rented on a net basis The profit discount method increased the company's equity by 1.011 billion yuan.

10. Tianjin Jinta Project (100% equity)

The project is developed by Financial Street Tianjin (Jinta) Real Estate Co., Ltd., a wholly-owned subsidiary of the company, and the company enjoys 100% equity . On August 5, 2005, the company acquired the land use rights for the Jinmen and Jinta projects for 734 million yuan. The project is located in Heping District, Tianjin City, adjacent to the Jinmen Project. It is bounded by the planned Dagu Road in the east, the planned Xing'an Road in the south, the planned pumping station in the west, and the Binhe Tourist Road in the north. The project uses are commercial and financial industry, office buildings, and apartments. It is completed It will later become a landmark building in Tianjin. The project land area is 22,600 square meters, the planned building area is 340,000 square meters, the floor area ratio is 11.68, and the planned building height is 336 meters. The project started in March 2007 and is expected to be completed by the end of December 2010. The project is expected to rent 229,600 square meters of office space, 7,500 square meters of commercial (underground) space, 1,000 parking spaces, 52,600 square meters of apartments for sale, and 5,200 square meters of commercial (above ground) space.

The total investment in the project is expected to be approximately 3.362 billion yuan, calculated based on the average sales price of 17,000 yuan/square meter. If all the apartments are sold, the project is expected to bring in sales revenue of 983 million yuan, and the land value-added tax will be fully accrued. , the apartment part of the project generated a net profit of 168 million yuan, bringing a net profit of 168 million yuan to the company. The rent for office buildings is calculated at 4.5 yuan/square meter/day, based on the 70% gross profit margin of rental properties disclosed in the 2007 annual report, and based on an operating life of 38 years. Assuming that the growth rate of business income is the same as the discount rate, it is expected that the above rental properties will be rented at The net profit discount method increased the company's equity by 3.965 billion yuan.

11. Chongqing University Town Project (100% equity)

The project is developed by the company's wholly-owned subsidiary Financial Street Chongqing Real Estate Co., Ltd., and the company enjoys 100% equity. Financial Street Chongqing Real Estate Co., Ltd. obtained the land use rights of the project land for 123 million yuan through auction in May 2007, with the floor price of approximately 632 yuan/square meter. The project is located in Shapingba District, Chongqing City, in Chenjiaqiao Town, the sub-center of Xiyong City, adjacent to the University Town to the west, Xiyong Microelectronics Industrial Park to the east, and Chongqing Modern Railway Logistics Park to the north. The project covers an area of ??145,700 square meters, with a planned construction area of ??194,700 square meters and a floor area ratio of 1.3. The project is planned to start construction in May 2008 and be completed in September 2011. It is planned to be a high-end garden house. The total investment of the project is expected to be 498 million yuan. Calculated based on the average sales price of 5,000 yuan/square meter. If the project is fully sold, the project is expected to bring sales revenue of 876 million yuan. The land value-added tax will be fully accrued, and the project will generate a net profit of 185 million yuan. , bringing the company a net profit of 185 million yuan.

12. Chongqing Mafang Bay Project (100% equity)

The project is developed by Financial Street Chongqing Real Estate Co., Ltd., a wholly-owned subsidiary of the company, and the company enjoys 100% equity. Financial Street Chongqing Real Estate Co., Ltd. obtained the land use rights of the project land for 284 million yuan through auction in September 2007, with the floor price of approximately 1,521 yuan/square meter. The project is located at the junction of Yupei Road and the Inner Ring Expressway, in the Yanggongqiao section of Shapingba East District, close to the Three Gorges Plaza business district and close to Ciqikou Ancient Town. The land use of the project is residential, commercial and protective green space, with a total area of ??42,000 square meters, a planned construction area of ??186,800 square meters, and a floor area ratio of 4.4. The project is scheduled to start in May 2008 and be completed in March 2010. The total investment of the project is expected to be 727 million yuan. Calculated based on the average sales price of 5,000 yuan/square meter. If the project is fully sold, the project is expected to bring sales revenue of 840 million yuan. The land value-added tax will be fully accrued, and the project will generate a net profit of 51 million yuan. , bringing a net profit of 51 million yuan to the company.

13. Chongqing Jiangbeicheng Project (100% equity)

The project covers an area of ??61,500 square meters, with a planned construction area of ??331,100 square meters. The company's equity area covers an area of ??31,200 square meters, with a planned construction area of ??165,600 square meters. The project is planned to be apartments, hotels and office buildings, of which the apartments are about 40,000 square meters for sale, and the hotels and office buildings are for self-operation or rental. The project is expected to start in May 2008 and be completed in May 2011. Calculated based on the company’s equity area, the estimated total investment in the project is 798 million yuan. Calculated based on the average sales price of 7,500 yuan/square meter, if all the apartments are sold, the project is expected to bring sales revenue of 257 million yuan, and the land value-added tax will be fully accrued. The apartment part of the project will generate a net profit of 36 million yuan, bringing a net profit to the company. Profit was 36 million yuan. The rental rate for office buildings is calculated at 3 yuan/square meter/day, based on the 70% gross profit margin of rental properties disclosed in the 2007 annual report, and based on an operating life of 38 years. Assuming that the growth rate of business income is the same as the discount rate, it is expected that the above rental properties will be rented at The net profit discount method increased the company's equity by 1.218 billion yuan.

14. Nanchang Zijinyuan Project (Phase 1-3 67.36% equity, Phase 4 85% equity)

The project is planned to be residential and will be developed in four phases, of which the former The third phase is developed by the company's holding subsidiary Financial Street Nanchang Real Estate Co., Ltd., with the company owning 67.36% of the equity. The fourth phase is developed by Nanchang World Trade Apartment Development Co., Ltd., with the company owning 85% of the equity. The project is located in Honggutan New District, Nanchang City. The first three phases of land were acquired by the company in October 2005 for 229 million yuan, which is part of the B-17 and B-14 plots under the Hongjiaozhou Control Regulations in Nanchang City, covering an area of ??177,700 square meters. meters, with a planned construction area of ??297,400 square meters. The fourth phase of the project (Plot B-16-1 of Hongjiaozhou) was acquired by the company in October 2007 by purchasing the equity of Nanchang World Trade Apartment Development Company. It covers an area of ??114,700 square meters and has a planned construction area of ??192,600 square meters. The first phase of the project was completed in December 2007, the second phase started in June 2007 and is expected to be completed in October 2008, the third phase started in January 2008 and is expected to be completed in October 2010, and the fourth phase is expected to start in 2008. Completed in 2011. Calculated based on the average sales price of 0.47-0.55 million yuan/square meter, if the project is sold in full, except for the sales carried forward, the project is expected to bring in sales revenue of 2.234 billion yuan. The land value-added tax will be fully accrued, and the project will generate a net profit of 3.53 billion yuan. billion, bringing the company a net profit of 263 million yuan.

15. Plots B-5 and B-6 in Honggutan Business District, Nanchang (85% equity)

The project is developed by Nanchang World Trade Apartment Development Company, and the company enjoys 85% equity . In March 2008, the company and Nanchang Honggutan New District Urban Construction Investment Development Co., Ltd., another shareholder of World Trade Apartment Company, formed a team to acquire the project land for 227.9 million yuan. Calculated with a floor area ratio of 4.3, the floor price was approximately 907 yuan/square meter. The project is located on Financial Street in the central business district of Honggutan District, Nanchang. It covers an area of ??58,500 square meters, has a floor area ratio of no more than 4.3, and a construction area of ??251,400 square meters. The project is commercial, office, financial, and hotel land, with a transfer period of 40 years. Calculated based on the average sales price of 5,500 yuan/square meter, if the project is fully sold, the project is expected to bring sales revenue of 1.244 billion yuan, and the land value-added tax will be fully accrued. The project will generate a net profit of 222 million yuan, bringing a net profit of 187 million yuan to the company. billion. Since the specific development plan of the project is unknown, it was not included in the company's 2008-2010 profit forecast.

16. Huizhou Xunliao Project (70.41% equity)

The project is developed by the company's subsidiary Financial Street Huizhou Real Estate Co., Ltd., and the company enjoys 70.41% equity. The project is located in Xunliao Town, Huidong County, Guangdong Province, bordering Tiechong to the east, Pinghai to the south, Daya Bay Economic Development Zone across the sea to the west, and Renshan Town to the north. Financial Street Huizhou Real Estate Co., Ltd. acquired the land use rights of the project site for 262 million yuan in October 2005. The project covers an area of ??3.5966 million square meters, with a planned construction area of ??2.2583 million square meters. It is divided into three areas and 17 plots. Area A is located in the north of Xunliao Bay, with 5 plots; Area B is located in Xunliao Bay, with 7 plots. Block; Area C is located in the south of Xunliao Bay, with 5 blocks.

Among them, Area A is a protection and control area, located at the northern end of the planned land, from Chisha Bay to Fengzui, including Chisha Bay and Pinghua Island, with a total land area of ??approximately 6.86 million square meters. Its main contents include administrative buildings, botanical gardens, direct Strictly control the construction of the offshore side of Binhai Road, such as lift apron and original state protection; Area B is an open tourist resort located in the middle of the planned land, from Fengzui to Yuntoujiao, including Xunliaowu Town, with a total land area of ??approximately 6.38 million square meters, mainly including headquarters villas, hotels, public beach baths, supporting facilities, yacht piers, etc.; Area C is the villa (quiet) area, located at the southern end of the planned land, from Yuntoujiao to Hutoushan, including Songyuan Bay, Xincun Bay, Fuchao Bay and Mozishi have a total land area of ??approximately 6.38 million square meters. The project started in 2006 and is expected to be completed in 2015. The development cycle will be ten years and the total investment will exceed 10 billion yuan. The project currently under development is in Area B, with a total area of ??1.2443 million square meters, a planned construction area of ??1.2693 million square meters, and an average floor area ratio of 1.02. The Area B project will be divided into three areas for development in phases: Fengchi Island Leisure and Resort Property Group, Central Commercial Plaza Apartment Group, and Coastal Resort Apartment Group. Among them, Fengchi Island Leisure and Resort Property Group will start construction in 2007 and will be constructed in three phases. It is expected to be completed in 2009; the Central Commercial Plaza Apartment Group will carry out overall planning and design in 2007, start construction in 2008, and be basically completed in 2011; the Coastal Resort Apartment Group will start planning and design in 2008, start construction in 2009, and complete construction in 2012 . According to the company's forecast, the total investment in the area B project is approximately 4.098 billion yuan, with sales revenue of 6.913 billion yuan and gross sales profit margin of 30 to 40%. Based on this calculation, if all areas A-C of the project are sold, it is expected to generate sales revenue of 14.227 billion yuan, and the land value-added tax will be fully accrued. The project will generate a net profit of 1.903 billion yuan, bringing a net profit of 1.34 billion yuan to the company.

17. Huizhou Hotel Project (Sheraton Hotel, 70.41% equity)

The project is developed by the company's subsidiary Financial Street Huizhou Real Estate Co., Ltd., and the company enjoys 70.41% equity. The project is located in Xunliao Town, Huidong County, Guangdong Province, and is a component of the Huizhou Xunliao Project. The project covers an area of ??92,100 square meters, with a planned construction area of ??43,600 square meters. It is positioned as a five-star hotel with more than 300 guest rooms. The project started at the end of 2006 and opened in August 2008, with a total investment of approximately RMB 400 million. Calculated based on a 35-year operating period, the project is expected to bring equity of 397 million yuan and net profit of 280 million yuan to the company.

18. The company’s existing rental properties

As of December 31, 2007, the company’s rental properties had a construction area of ??218,600 square meters, mainly including financial buildings and financial buildings located in the Financial Street area. Street Shopping Center, Jinshu Street Project, C3 Courtyard, Tongtai Building, State-owned Enterprise Building, Jinyang Building, etc. Financial Street Shopping Center, Jinshu Street Project, and C3 Courtyard are the company's new rental properties in 2007, including 89,000 square meters of Financial Street Shopping Center, 8,900 square meters of Jinshu Street Project, and 2,100 square meters of C3 Courtyard. According to the company's 2007 annual report, the company's operating income from rental properties in 2007 was approximately 140 million yuan, with an operating profit margin of 79.44%. Based on this, based on a PE valuation of 30 times, the company's existing rental properties will bring net benefits to the company after discounting Profit 2.25 billion yuan.

19. The company’s existing self-owned properties

As of December 31, 2007, the company’s self-owned properties had a construction area of ??97,800 square meters, all located in the Financial Street area. Among them, the Ritz-Carlton Hotel has 41,100 square meters, with 253 guest rooms, a 1,500-square-meter well-equipped SPA and fitness center, and supporting banquet halls and conference rooms; the Financial Street Apartments have 50,700 square meters; and the Financiers Club has 6,000 square meters. . According to the company's 2007 annual report, the company's self-operated properties in 2007 had a total construction area of ??approximately 98,000 square meters, achieved operating income of approximately 202 million yuan, and an operating profit margin of 28.56%. In view of the fact that the company's self-operated properties such as the Ritz-Carlton Hotel have been It has only started operation half a year ago and has not yet entered normal operations, so the operating profit margin is appropriately increased. Based on this, based on a PE valuation of 30 times, the company's existing rental properties will bring a net profit of 2.158 billion yuan to the company after discounting.

20, Meisheng International Plaza (100% equity)

The project was acquired by the company from Beijing Meisheng Real Estate Development Co., Ltd. on December 19, 2008, and the transaction price was 1,599.98 million yuan. Meisheng International Plaza is located at No. 110, Xidan North Street, Beijing. It is adjacent to Xidan North Street to the west, Picai Hutong to the north, the wall of the Organization Department of the Central Committee of the Communist Party of China to the east, and Xidan Friendship Mall to the south. The planned uses are commercial, apartment-style offices, underground commerce, Underground garage. The project covers an area of ??12,279.785 square meters, with a planned construction area of ??111,201 square meters, of which the above-ground construction area is 81,680 square meters. At present, the southern half of the Meisheng project has been structurally capped, and earthwork construction is underway in the northern half. The rent for the commercial part of the Meisheng International Plaza project is approximately 6.5 yuan/square meter/day. When the capitalization rate is 0.8, the market value of the project business is 140 million yuan. If rents increase by 5% every five years, the static investment payback period for the commercial part is about 10 years. If all the projects are sold, it is expected that the transaction price of office buildings will be 23,000 yuan/square meter and that of commercial buildings will be around 27,000 yuan/square meter. Under the above assumptions, the overall income of the project reaches 364 million yuan, which can increase the performance by about 0.15 yuan based on the total equity of the current period.

21, Financial Street Fuxingmen Nei 4-2# project (100% equity)

The project was opened by the company from the city on September 22, 2008 at a price of 903 million yuan. Acquired by the group. The project is located on the south side of West Chang'an Street inside Fuxingmen, Xicheng District, and is planned to be used as an office building. The project land area is 19,799.3 square meters, with a planned construction area of ??approximately 160,000 square meters, of which the above-ground construction area is approximately 100,000 square meters. Most of the demolition work within the Fuxingmen project land has been completed, and there are still a few households that have not yet been relocated. It is expected that the project will start to settle revenue around 2011. According to estimates, the project will contribute a net profit of 760 million yuan.

22, Desheng International Center (100% equity)

On December 23, 2008, the company acquired Desheng held by Beijing Jinhao Real Estate Development Co., Ltd. for 3.4749 million yuan 1% of the company's equity. After the equity transfer is completed, the company will hold 100% of the equity of Desheng Company. Previously, the company purchased 99% of the equity of Beijing Desheng Investment Co., Ltd. from Beijing Huarong Comprehensive Investment Company. The company acquires ownership of Desheng International Center. The project is located in the core area of ??Desheng Science and Technology Park, adjacent to the North Second Ring Road, Zhongguancun and Ya'ao to the north, Financial Street to the south, Lufthansa to the east, and the National Administrative Center to the west. It is at the starting point of the Badaling Expressway Economic Zone. The Desheng International Center project covers a total area of ??3.53 hectares, with a total construction area of ??229,500 square meters, including 160,200 square meters of above-ground construction area and 69,000 square meters of underground construction area. The project consists of four 16-story international Grade-A office buildings with a height of 65 meters on the ground and two-story commercial podiums in the east and west rows; there are three floors in the basement, which are mainly garages, auxiliary rooms and equipment rooms. Many large enterprises and institutions have settled in the project area, and a cluster of modern and international large enterprises will form a new Beijing business landscape.

Desheng International Center Tower A of 50,000 square meters and Tower D of 30,000 square meters were sold to Fortune 500 companies respectively - China Communications Construction Group and Industrial and Commercial Bank of China Co., Ltd. (the total selling price is approximately 1.5 billion, moved in on April 30, 2008). More than 30,000 square meters in Tower B are planned to be rented out by the company, and more than 30,000 square meters in Tower C are planned to be sold en bloc.

Desheng International Center has an exclusive commercial space of 20,000 square meters, which is owned and leased by the company.

23, Shijingshan District Yamenkou

On October 18, 2008, the company and Beishikai Real Estate Development Co., Ltd. (the company’s wholly-owned subsidiary Financial Street (North) Real Estate Co., Ltd. A bidding consortium composed of companies holding 50% of its equity) obtained the state-owned land use rights for residential and public construction land at the Yamen Gate of Shijingshan District through bidding for 1.225 billion yuan, and received a winning notice from the Beijing Municipal Land and Resources Bureau. The land is located in the Yamenkou area of ??Shijingshan District, Bei City. It is used for residential, commercial and financial purposes. It covers an area of ??263,402.147 square meters and has a planned construction area of ??350,742.33 square meters (including limited-price commercial housing with a construction area of ??50,000 square meters).