What is the purpose of Changde Chengtou's acquisition of Zhejiang Zhongcheng?

Changde Chengfa's acquisition of Zhejiang Zhongcheng and the thorough implementation of the plan of Changde Municipal Party Committee and Municipal Government to actively promote the high-quality and sustainable development of enterprise economy are conducive to further improving the asset securitization rate of Changde Chengfa, enhancing the overall core competitiveness, and promoting the layout optimization and structural adjustment of state-owned economy.

Changde City Construction Investment Group Co., Ltd. was established on September 9, 1998, with its registered place at No.396 Zaoguo Road, Huijiaping Community, Chuanzihe Sub-district Office, Wuling District, Changde City, Hunan Province, and its legal representative is Zhou Xiao. Business scope includes licensed projects: construction projects; Real estate development and management; Tourism business; Accommodation services (projects that need to be approved according to law can only be operated after the approval of relevant departments, and the specific business projects are subject to the approval documents or licenses of relevant departments) General projects: investment activities with their own funds; Construction of stadiums and facilities; Landscaping engineering construction; Non-residential real estate leasing; Housing lease; Real estate agent; Lease of construction machinery and equipment; Leasing services (excluding franchised leasing services); Sales of building materials; Lease of land use right; Engineering management services; Foreign contracted projects; Planning and consulting of tourism development projects; Development and management of rural folk handicrafts and products, leisure agriculture and rural tourism resources; Scenic spot management; Leisure and sightseeing activities; Park management services; City park management (except for projects that must be approved according to law, and independently carry out business activities according to law with business licenses). Changde City Construction Investment Group Co., Ltd. invested in 25 foreign companies and 9 branches.