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Country Garden Was Forced to Sell Its Changxin Shares at Par Value, Missing Out on a Return of over 23 Times Its Investment.
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According to ChainCatcher, crypto KOL AB Kuai.Dong (@_FORAB) disclosed that in September 2021, Country Garden invested 2 billion yuan in Changxin at 2.22 yuan per share, acquiring 901 million shares. At the end of 2024, due to a liquidity crisis in the real estate sector, Country Garden was forced to sell all its Changxin shares at the original price, with Hefei State-owned Assets Supervision and Administration Commission (SASAC) taking over. If…
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