November 9 -- Yihua Real Estate (000150.SZ) plans to acquire to two real estate development firms in Meizhou and Xaingtan currently owned by Yihua Enterprise Group Limited for a total of 339 million yuan, reports yicai.com, citing a company filing. The Meizhou company costs 103 million yuan while the other costs 236 million yuan.

The Meizhou target had a book value of 122 million yuan, excluding a provision for devaluation, and has a project in Pingyuan Town.

The Xiangtan firm, which had a book value of 567 million yuan, has a project in Yuetang Town.

High-quality real estate assets will be injected into Yihua Real Estate, eliminating horizontal competition and improving profitability.

Source:CapitalVue