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Yida China unit to sell residential asset to Longfor unit for 2.60B yuan

A wholly owned unit of Yida China Holdings Ltd. agreed to sell a mixed-use residential development project within the Dalian Hi-Tech Park in Dalian City, China, to a subsidiary of Longfor Properties Co. Ltd. for 2.60 billion yuan.

Dalian Software Park Zhongxing Kaifa Co. Ltd. is selling the roughly 246,890-square-meter property to Dalian Hengfa Investment Co. Ltd.

As of May 25, US$1 was equivalent to 6.39 Chinese yuan.