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What is the relationship between Xingrui Real Estate and Chang?

Xingrui Real Estate is a subsidiary of Hechang Group. Xingrui Real Estate is a real estate sector under Xingrui Industry, which is jointly invested by Zhong Rui Group, the parent company of Hechang Group, and Xinggang Investment Group of Zhengzhou Airport. Hechang is responsible for development and operation and is a subsidiary of Hechang. Hechang Group also has five wholly-owned subsidiaries, including Suzhou Yichang Property, Hechuang Property, Ruixing Property, Heyuefeng Engineering Consulting and Shenzhen Hebo Intelligent.