BEIJING, Feb. 21, 2017 /PRNewswire/ -- Fang Holdings
Limited (NYSE: SFUN) ("we," "our," or "Fang"), the leading real
estate Internet portal in China,
today announced that it has entered into an agreement to terminate
its proposed acquisition of a controlling stake in Chongqing Wanli
New Energy Co., Ltd. ("Wanli"), a company listed on the Shanghai
Stock Exchange (stock code: 600847), and the sale of Wanli's assets
(such transactions, collectively, the "Restructuring").
The transacting parties agreed to terminate the Restructuring in
light of substantial regulatory uncertainties in China. The termination agreement will become
effective upon board approvals of the transacting parties.
About Fang
Fang operates the leading real estate Internet portal in
China in terms of the number of
page views and visitors to its websites. Through our websites, we
provide e-commerce, marketing, listing, financial and other
value-added services for China's
fast-growing real estate and home furnishing and improvement
sectors. Our user-friendly websites support active online
communities and networks of users seeking information on, and other
value-added services for, the real estate and home furnishing and
improvement sectors in China. Fang
currently maintains about 100 offices to focus on local market
needs and its website and database contains real estate related
content covering more than 629 cities in China. For more information about Fang, please
visit http://ir.fang.com.
About Wanli
Founded in 1992, Wanli is a manufacturer of storage batteries.
Wanli's shares have been listed on the Shanghai Stock Exchange
since 1994.
For investor and media inquiries, please contact:
Dr. Hua Lei
CFO
Phone: +86-10-5631-8661
Email: leihua@fang.com
Ms. Joyce Tang
Senior Investor Relations Manager
Phone: +86-10-5631 8659
Email: tangjunning@fang.com
Ms. Dana Cheng
Investor Relations Manager
Phone: +86-10-5631 8174
Email: chengyu.bj@fang.com
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visit:http://www.prnewswire.com/news-releases/fang-enters-into-agreement-to-terminate-the-restructuring-300410598.html
SOURCE Fang Holdings Limited