Article: BAOJI DEPARTMENT STORE TO INVEST IN HAINAN AIRLINES PROPERTY


AsiaInfo Services
02-27-2008
Baoji Department Store to Invest in Hainan Airlines Property

Baoji Department Store (Group) Co., Feb 27, 2008 (SinoCast via COMTEX) -- . (SZSE: 000796), will invest CNY 10 million in Northwestern HNA Real Estate Group Co., Ltd., or formerly Xi'an Minsheng Real Estate Development Co., Ltd., taking a 8.3% stake in the latter.

The investment is regarded as a move of the listed company to angle for higher profit growth and sustainable development. It will also pave the way for the company's chain operation by using the real estate developer's properties as platforms.

At the same time, the listed company plans to clinch an agreement on ...

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