[ET Net News Agency, 14 February 2018] China Resources Phoenix Healthcare (01515) said
it agreed to purchase Rooms E-822, E-823 and E-825, 7th Floor, No. 6 Taiping Street,
Xicheng District, Beijing, the PRC with a gross floor area of 551.56 square metres for
commercial use at Rmb16.84 million from Beijing Phoenix United Investment Management
Company Limited.
The company will continue to use the property as its headquarters and principal place of
business in the PRC. In view of the fact that the company has practical needs to continue
the occupancy for its operational needs in the foreseeable future, the Board believes that
it is in long term benefit for the company to take ownership of the property rather than
continuing to lease the property, as it allows the company to save rental costs. The Board
also expects a value appreciation of the property in view of the current commercial
property market in Beijing. (HL)