Yang Huiyan, the controlling shareholder and non-executive director of Country Garden Services, has donated 20% of the company’s equity to the Guoqiang Charity Foundation. This significant contribution is estimated to be worth around 6.443 billion Hong Kong dollars. The donated shares account for approximately 20% of the company’s issued shares.
The announcement made by Country Garden Services on July 30th highlighted that the Guoqiang Charity Foundation, in accordance with an irrevocable and unconditional commitment, will hold the donated shares for a period of ten years. During this time, Yang Huiyan or her designated person will exercise the voting rights of these shares on behalf of the foundation. This arrangement ensures that Yang Huiyan will maintain control over 36.12% of the company’s issued shares, amounting to 1218336100 shares.
The Guoqiang Charity Foundation (Hong Kong) is a well-established public welfare organization that adheres to stringent foundation charters and regulations. The foundation operates in compliance with the standards of top-notch overseas foundations and has built a high-quality management team. The use of the donated shares will primarily support initiatives in Hong Kong.
This generous act by Yang Huiyan adds to the growing trend of charitable equity donations in China. It represents a commitment to giving back to society and making a positive impact through philanthropy.
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