Shenzhen Konka A (000016.SZ) recently announced that in order to meet the needs of Konka Group's daily operating funds, Konka Group has applied for a total credit facility of RMB 7.3 billion from Shanghai Pudong Development Bank and Bank of China for a period of one year. In this regard, the industry believes that the loan will be used for Shenzhen headquarters 37,000 square meters to update the unit planning project, which is also contrary to the promise of early holdings of Shenzhen Konka A's controlling shareholders, “Do not compete with OCT A (000069.SZ) competition†matters.
Earlier, Shenzhen Konka A issued an announcement saying that the company's headquarters plant renewal unit plan (draft) has been approved in principle by the Shenzhen Municipal Planning and Land and Resources Committee: The renewal unit plan has an area of ​​37,000 square meters for demolition and land for development and construction. It has an area of ​​37,000 square meters and a floor area ratio of 260,000 square meters. It is an urban complex integrating multiple functions such as R&D, office and business.
In this regard, some people in the industry believe that the credit loan will be used to update the construction of the unit planning project, that is, the Shenzhen Konka A will turn to operators for residential land, into the real estate market move.
As early as 1999, when the Shenzhen Overseas Chinese A controlling shareholder OCT Group was listed as a whole, it had promised that OCT Group would not directly or indirectly engage in the development of businesses or projects with the same or similar scope of business as OCT A within or outside China.
According to statistics, in November 2009, OCT Group’s main business achieved its overall listing. OCT A's business scope includes real estate development, self-owned property leasing, and hotel management.
Yang Saiqing, president of the Konka Group, pointed out that although Shenzhen Konka A’s “renewal unit plan†will be put into operation, although OCT is a real estate operator, there is no competition in the industry.
Yang Saiqing said that OCT A is mainly engaged in high-end real estate development and hotel leasing, while Shenzhen Konka A is involved in commercial real estate leasing, and most of the properties will be used for personal use.
According to statistics, OCT A and Shenzhen Konka A are subsidiaries of OCT Group.
Earlier, Shenzhen Konka A issued an announcement saying that the company's headquarters plant renewal unit plan (draft) has been approved in principle by the Shenzhen Municipal Planning and Land and Resources Committee: The renewal unit plan has an area of ​​37,000 square meters for demolition and land for development and construction. It has an area of ​​37,000 square meters and a floor area ratio of 260,000 square meters. It is an urban complex integrating multiple functions such as R&D, office and business.
In this regard, some people in the industry believe that the credit loan will be used to update the construction of the unit planning project, that is, the Shenzhen Konka A will turn to operators for residential land, into the real estate market move.
As early as 1999, when the Shenzhen Overseas Chinese A controlling shareholder OCT Group was listed as a whole, it had promised that OCT Group would not directly or indirectly engage in the development of businesses or projects with the same or similar scope of business as OCT A within or outside China.
According to statistics, in November 2009, OCT Group’s main business achieved its overall listing. OCT A's business scope includes real estate development, self-owned property leasing, and hotel management.
Yang Saiqing, president of the Konka Group, pointed out that although Shenzhen Konka A’s “renewal unit plan†will be put into operation, although OCT is a real estate operator, there is no competition in the industry.
Yang Saiqing said that OCT A is mainly engaged in high-end real estate development and hotel leasing, while Shenzhen Konka A is involved in commercial real estate leasing, and most of the properties will be used for personal use.
According to statistics, OCT A and Shenzhen Konka A are subsidiaries of OCT Group.
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