Urban Construction Development announced that its board of directors has approved a proposal to cancel a joint real estate investment with a related party. The company has decided to independently or jointly with other non-related parties participate in the pre-application and subsequent bidding for a land parcel in Dongxiaokou Town, Changping District. This move will not have an adverse impact on the company's normal operations or financial condition.
Beijing Urban Construction Investment & Development Co LtdCancels a joint investment with a related party, but states no adverse impact on operations or finances; unclear net effect.