Yesterday morning Reuters ran a translated abstract reporting “REFILE-BRIEF-China’s Greattown to invest 180 mln yuan to set up unit for Lanzhou theme park project”.
Well this got me curious – just who is China Greattown and what is this “theme park project”?
Would this just turn out to be another example of how the term “theme park” is misleadingly used?
I had to find out ‘
Well, I was not able to find the China’s Greattown site, or at least one that I was able to open; however, Bloomberg describes the group, which is listed on the Shanghai Stock Exchange, as follows: GREATTOWN HOLDINGS LTD. is principally engaged in the development, operation and distribution of real estates. The Company primarily provides residential buildings, hotels, commercial buildings and parking lots, among others. The Company mainly operates its business in Fuzhou, Fujian province, China.
One report led to another and I finally ended up translating the source that was used to generate all this buzz, and here it is. I thought that you might be interested too. (Please forgive the translation of the announcement – the original is here.)
“1 Overview of investment projects
According to the company’s Science and Technology Park in eastern Maryland master plan, the company intends to invest in Lanzhou 18, 000 million to set up a wholly-owned subsidiary of Maryland Sea World Industrial Co., Ltd., a company in West Development of cultural tourism in Northern theme park project, the main building and managing operations.
After the fifth session of the thirty-second session of the Board to nine votes in favor, 0 against Abstention votes, agreed to by the company 100% funded the establishment of Maryland Sea World Industries Limited Division.The funding decision-making authority belongs to the company board of directors, without the approval of the shareholders’ meeting. The Funding does not involve related party transactions.
Second, the basic situation of the subsidiary to be established
1, the proposed investment company name: Maryland Sea World Industries Limited.(The name is already Commerce and Industry Pre-approval of the administrative department, Trade and Industry approved the final name registration. )
2, the proposed investment company registered address: Lanzhou Yuzhong county towns (eventually registered address Industry and Commerce approved the registration date)
3, plans to invest Registered capital: RMB 18, 000 million.
4, shareholders and financial contributions are as follows: The Company contributed RMB 18, 000 million, representing 100% of the registered capital, funded by: Monetary funds invested way.
5, Business: The business scope: aquarium construction, operation, management, Management-related service facilities (including biological and environmental simulation show); catering services; Services and management; parking; marine investment and development; project investment; architectural decoration installation works; matter Business management; building materials sales; Landscaping (over the operating range of the registration authorities to prevail).
6, business type: limited liability company.
7, investment contracts Content: The contribution of investment to set up a wholly-owned subsidiary, investment. A wholly owned subsidiary matters will be established by the agreement made “Articles” in without signing Foreign investment contracts.
Third, the purpose of investment, sources of funding and the impact on the company’s
1 Investment Objective:
According to the master plan company in eastern Maryland Science and Technology Park, the establishment of these subsidiaries, as a company in the future development of the Northwest regional cultural tourism theme park project, construction and management body operations.
2, sources of funding:
The company’s own funds, currency funds in the form of investment.
3, the impact on the company’s
The contribution by the company’s own capital investment, investment accounting for the Company’s latest audited 5.10% of net assets, no material impact on the company’s current financial position, the proposed establishment of a fully owned subsidiary will enter the Company’s consolidated financial accounting reporting units.The contribution does not involve personnel arrangements.”