Shandong Fucheng Real Estate Co., Ltd. reorganization case investor recruitment announcement

On March 26, 2021, the Lanshan District People's Court of Linyi City, Shandong Province (hereinafter referred to as the "Lanshan Court") ruled to accept the reorganization application of Shandong Fucheng Real Estate Co., Ltd. (hereinafter referred to as "Fucheng Real Estate"), and on March 30, 2021, it designated the liquidation team of Shandong Fucheng Real Estate Co., Ltd. as the administrator of Shandong Fucheng Real Estate Co., Ltd. (hereinafter referred to as the "Administrator").

In order to achieve the optimal allocation of Fucheng Real Estate resources, safeguard the legitimate rights and interests of creditors, home buyers and relevant parties, and achieve the reorganization goal as soon as possible and steadily, the administrator shall publicly recruit reorganization investors for Fucheng Real Estate in accordance with the "Enterprise Bankruptcy Law of the People's Republic of China" and other relevant laws and regulations. The recruitment is hereby announced as follows:

First, the company profile

(1) Basic information

Fucheng Real Estate was established on May 21, 2001, with a registered capital of 18 million yuan, the current registration authority is Linyi Lanshan District Market Supervision and Administration Bureau, unified social credit code 913713007346974174, registration place is No. 73 Hongqi Road, Lanshan District, the legal representative is Chen Xingliang, the company type is other limited liability companies. Business scope: real estate development (operating according to the period of qualification approval). (Projects that require approval in accordance with the law can only carry out business activities after approval by the relevant departments).

Since its establishment, Fucheng Real Estate has developed projects such as "Fucheng Central Garden", "Fucheng Royal Palace" and "Fucheng Garden", without other business operations, and later due to the break of the capital chain, the operation stagnated.

(2) Project situation

Fortune Property Parcel Situation:

1. Plot of No. 86 Yinqueshan Road, covering a total area of 13062.2 square meters, land use right certificate number "Linlan Guoyong (2002) Zi No. 0176" (has not yet gone through the registration procedures for change of land use right), the nature of the land is residential land, the land use is residential, the service life is 30 years, and the land has not yet been developed and constructed.

2. No. 73 Hongqi Road (Hongqi Road North), covers a total area of 3007 square meters, the nature of the land is commercial and residential land, the land use is commercial and residential, the service life is 40 years for commercial and residential (the land use right transfer contract has been signed, the deposit has been paid, the land has been delivered, and the land use right has not yet been obtained).

3. Plot of No. 183 Yinqueshan Road, covering a total area of 3027 square meters, the nature of the land is commercial and residential land, the land use is commercial and residential, the service life is 40 years for commercial and residential (the land use right transfer contract has been signed, the deposit has been paid, the land has been delivered, and the land use right has not yet been obtained).

4. No. 34 Jiefang Road, covering a total area of 2528.22 square meters, land use right certificate number "Linlan National Use (2005) No. 0040, 0041". The plot of land to develop and construct the "Fucheng Wangfu" project, a total of 1 33-storey building is planned, of which: the 33rd floor has been capped, the main body and part of the internal construction works have been completed.

5. Plot of No. 73 Hongqi Road (Hongqi Road South), covering a total area of 8554.25 square meters, the land use right certificate number "Linlan Guoyong (2004) Zi No. 0286". The plot develops and constructs the "Central Garden" project, with a total of 2 commercial and residential buildings planned for construction, which have been delivered to the owner for use (the project has not been accepted).

(3) Project advantages

Fucheng Real Estate development plot is located near the main road of Tongda Road and Jiefang Road, and the surrounding residential areas, large hospitals, well-known schools, office buildings and other places are dense, with perfect supporting facilities, convenient transportation and superior geographical location. The location of the undeveloped land plot is superior, which is conducive to the subsequent comprehensive utilization development.

(4) Liabilities

The review and confirmation of bankruptcy claims is in progress, and the final amount and order of repayment of the claims shall be subject to the confirmation of the Lanshan Court's ruling. Detailed bankruptcy claims should be found during due diligence.

2. Basic conditions for investors intending to reorganize

Investors intending to restructure must also meet the following conditions:

(1) Enterprise legal persons that are lawfully established and effectively exist, have not been entered into the list of untrustworthiness by the people's courts, and have a high sense of social responsibility and good commercial credit.

(2) Have sufficient financial strength to carry out reorganization investments, and provide corresponding credit certificates or other proof of ability to perform the contract.

(3) The project accepts investment from the consortium, and each investor must meet the requirements of Article 1, and at least one of the investors meets all the above conditions. For joint investment, an investor shall be designated as the representative, and all investors shall be responsible for handling the relevant affairs of the reorganization investment on behalf of all investors, and all the reorganization investment entities shall bear joint and several liability. Where two or more electoral investors jointly participate in the investment, they must submit materials in accordance with the requirements of the manager, and separate documents including explaining the division of roles, rights and obligations of each entity must be submitted.

(4) Accept the manager's investigation of its corporate reputation, enterprise performance, financial strength and other aspects.

3. Collection of registration and recruitment documents

(1) Application time: The application period for this recruitment is from the date of this announcement to 17:00 on October 16, 2021 (the deadline is 17:00 on the first day after the statutory holiday in case of statutory holidays).

(2) Registration method: Investors who intend to reorganize shall submit written materials for registration in accordance with Article 5 of this Announcement.

Application information submission address: Linyi City, Shandong Province, Lanshan District, Binhe Avenue, Jinzhi Party Group Service Center on the northwest corner of the second floor

Contact: Mr. Wu, Mr. Wang

Contact number: Mr. Wu 18369300918, Mr. Wang 15588133166

(3) Collection of recruitment documents: If the applicant who intends to reorganize submits accurate and complete registration materials and has paid the registration deposit, he shall be approved by the manager and collect the recruitment documents after the registration time expires.

(4) After the registration deadline, the administrator will no longer accept the application materials.

4. Registration and confirmation procedures for investors intending to reorganize

(1) Submit registration materials.

(2) Pay the registration deposit. Investors who intend to participate in the restructuring should pay the registration deposit of RMB 1 million to the manager through the bank account of the intended reorganization investor at the time of registration (submit the remittance voucher at the time of registration, and no interest will be calculated during the deposit period), and the deadline for paying the registration deposit is: 17:00 on October 16, 2021 (subject to the arrival of the manager's account).

(3) Carry out due diligence. Those who meet the registration requirements, submit accurate and complete materials, and have paid the registration deposit, the registration will be successful after the management has reviewed and approved. After the successful registration of the intended reorganization investor signs the "Confidentiality Agreement" with the manager, it can carry out due diligence and the manager cooperates to provide relevant information. The due diligence deadline is 17:00 on 30 October 2021 (if the deadline falls on a statutory holiday, it will be postponed to 17:00 on the first day after the statutory holiday).

(4) After the investigation of the investor intending to reorganize is completed and it is decided to continue to participate in the election, he shall renew the investment deposit of 49 million yuan before submitting the reorganization investment documents, and pay a total investment deposit of 50 million yuan together with the registration deposit of 1 million yuan paid at the time of registration (no interest is calculated during the deposit period). The deadline for renewing the investment margin is 17:00 on November 15, 2021 (subject to the arrival of the manager's account).

(5) The designated account for receiving the deposit by the administrator:

Account Name: Manager of Shandong Fucheng Real Estate Co., Ltd

Bank: Jintai Branch of Linshang Bank Co., Ltd

Account number: 818210101421220241

(6) Deadline for submission of reorganization investment documents: 9:00 a.m. on November 16, 2021.

(7) The confirmation of the reorganization investor shall be determined in accordance with the evaluation measures of the recruitment documents.

5. Application materials to be submitted by investors intending to reorganize

The following registration materials should be stamped with the official seal of the intended reorganization investor:

(1) "Shandong Fucheng Real Estate Co., Ltd. Intention to Reorganize investor application form" (contact the administrator to obtain an electronic version, stamped with the official seal and signed by the legal representative).

(2) Subject materials, including copies of business licenses, articles of association, legal representative's identity certificate, copy of legal representative's IDENTITY card, basic situation of the enterprise, and introduction to performance.

(3) The credit certificate issued by the basic account opening bank, indicating the financial situation and financial strength; the industrial relevance or related investment, operation and management experience materials with Shandong Fucheng Real Estate Co., Ltd.

(4) The original resolution of the decision-making bodies such as the board of directors and the shareholders' (congress) meeting of the investor who intend to reorganize the investor agree to the reorganization of the investment.

(5) Confirmation of the address of the address of the investor indicating the intention to reorganize the investor, the contact number, and the address of the e-mail address.

(6) Authorization and entrustment materials, including a written power of attorney indicating the name, contact information, and scope of authorization of the agent or entrusted agent, and a copy of the trustee's ID card.

(7) Other relevant materials required to be submitted by the administrator.

6. Special notice

(1) The recruitment is based on the principles of openness, fairness and justice, and is open to the public to recruit investors who intend to reorganize. Investors who intend to restructure shall submit relevant materials to the manager, shall be deemed to have accepted all the contents published in this announcement, agreed to invest in accordance with the current situation of Fucheng Real Estate, and borne the relevant investment risks themselves.

(2) For detailed information such as the historical evolution, shareholding structure status, development status, employee situation, tax situation, major assets and liabilities of Fucheng Real Estate, etc., please obtain the intention of restructuring investors by conducting their own due diligence, and the expenses incurred due to the investigation are at their own expense. Submission of restructuring investment documents is deemed to be an agreement to invest in accordance with the current status quo of Fucheng Real Estate, and this recruitment announcement does not automatically replace the due diligence of investors intending to restructure.

(3) If there are major matters affecting the restructuring of Fucheng Real Estate, the manager may suspend or withdraw this recruitment announcement. If this prospectus is suspended or withdrawn, the Manager shall not be required to make any compensation for the investment of the investors who intend to restructure.

(4) This recruitment announcement does not require a non-contractual document, and the Law of the People's Republic of China on Bidding and Bidding is not applicable, and the administrator has the right to adjust and change the content of this announcement, and the right of interpretation belongs to the administrator.

(5) "The Fucheng Wangfu project developed by Fucheng Real Estate Company has not yet been completed, and the Central Garden Project has not yet passed the acceptance", the intended reorganization investor needs to bear "the cost of continuation and rectification and all the costs arising from acceptance and certification, including land transfer fees, urban infrastructure supporting fees, etc." in addition to the debt repayment funds, and the relevant expenses are estimated by the intended reorganization investor, the manager provides information but is not responsible for bearing the relevant risks, and the reorganization investor shall bear or recover from the construction party due to the problem of project quality. In connection with the restructuring and renewal of the project, the investors interested in restructuring should consult with the relevant departments on their own, and the manager is not responsible for tax consultation and bears the relevant tax risks. "One (b) missing parcels '2 and 3'" involves the continued performance of the contract, which the intended restructuring investor needs to bear in addition to the debt repayment funds. The reorganization investor and the debtor shall handle the formalities of continuation construction, fire protection, completion acceptance and other procedures on their own, and hand over the project status at the time of handover.

(6) The equity of Fucheng Real Estate held by the shareholders of Fucheng Real Estate has been frozen by a number of courts, and it is impossible to determine whether the freeze can be lifted, and if it cannot be lifted, it will affect the transfer of equity. If the payment and other expenses incurred in the settlement of debts on behalf of the debtor are discharged by means of coordination, the reorganization investor and the restructured debtor shall bear the responsibility of the reorganization investor.

(7) If this recruitment document is inconsistent with the resolution of the creditors' meeting, the resolution of the creditors' meeting shall prevail.

For matters not covered in this announcement, the recruitment documents shall prevail.

Welcome powerful units to come to contact and participate in the restructuring investment.

Manager of Shandong Fucheng Real Estate Co., Ltd

September 29, 2021