Lu Zhiqiang Oceanwide Group Part 3

In "Oceanwide of" real estate business tense capital, its financial industry use of the pledge, secured stock options, and other ways to help finance its completion. Minsheng Bank Notice disclosure, as at the end of 2006, Lu Zhiqiang control of the Oceanwide Group and its related enterprises in Minsheng Bank loans up to the association, reaching 3.386 billion yuan, accounting for loans related to the proportion of 79.9 percent.

According to public information, as at January 2007, "Oceanwide department" has been building its Oceanwide Oceanwide Construction Holdings Limited shares held by the 400 million shares, the investment group glory to the cause of legal person shares held by 7,029 million shares have pledged to the State Development Bank, and , Lu Zhiqiang held by the Bank of the people's livelihood of all 573 million shares have been pledged. Therefore, "Oceanwide of" control of the hands of the various stake has been completely secured.

Perhaps it was the result, Lu Zhiqiang a focus on integration of real estate capital platform. Who shares the opportunity to be "glory to the building of" changed its name to "Oceanwide Construction" and directed by two additional assets will be injected into "Oceanwide building." In the real estate company's difficult financial enterprises from the associated funding situation, Lu Zhiqiang found a shortcut to another.

April 2006, Oceanwide building from major shareholders announced the acquisition of its Oceanwide Group's Beijing Oceanwide Dongfeng Ltd 65% stake. Since then Oceanwide Oceanwide Group also directed the building of additional 400 million shares, after the implementation of Oceanwide access to the building of Beijing Oceanwide Dongfeng Ltd owned by Oceanwide International Residential District 1 # 2 # 3 # plot Total 743,800 square meters of quality Land reserve.

March 2007, Oceanwide building announcement, announced that it will issue through non-public fund-raising about 80 billion for the acquisition of major shareholders Oceanwide Group Spark company's 100 percent stake in the company 100 percent-stake in the company 100 percent stake in Zhejiang , Wuhan 60 percent stake in the company. Upon completion of the acquisition, Oceanwide building owned land reserves will exceed the scale of the majority of first-line real estate companies, the increase in construction area of over 8 million square meters.

The issuance of the programme as early as this year on March 16 came to the surface. The statement was issued at that time 500 million shares, Oceanwide holding assets to subscribe for not less than 250 million shares, the value of the assets or liabilities to raise funds to pay. In addition, other investors to subscribe for cash the remaining shares, to raise funds not more than 4.638 billion.