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The listed flagship of one of China’s 10 richest real estate developers plans to turn equity investing – especially in the technology field — into a core business.
In an announcement on Tuesday labeled “commencement of new principal business activity,” Hopson Development said “all conditions for treating the equity investment business as a principal ordinary business had been fulfilled” after initial steps started in 2016, and the company’s board had “decided to drive the business forward during the year by officially including the equity investment business as one of the Group’s principal business activities.”
The growing importance of high-tech development is behind the change, Hobson said. “High-and-new technology will become the most important driving force behind the future development of the world and China, and the group should and must embrace it to ensure its long-term development,” the announcement said.
Most Popular In: AsiaHence, Hopson said, “the future investment direction of the group will follow the principle of steady advancement with a focus on high-tech investment in the group’s equity investment business,”
The decision aims to facilitate Hopson’s “gradual transformation from a real estate developer and commercial real estate operator to a technology-enabled and industry-driven comprehensive investment holding platform …
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