A company backed by Shaolin Temple, a renowned temple in central China, has reportedly won a land auction with a bid of 452 million yuan on Wednesday.
The land, about 38,200 square meters in Zhengdong New District is zoned for retail, catering and hotel development was acquired by Henan Tiesong Digital Technology Co.
According to company information searching platform Tianyancha, Tiesong Technology was established on March 22 with two major shareholders -- Henan Tietou Comprehensive Development Co and Henan Yuanhan Industry Co.
Shaolin Intangible Assets Management Center, an agency afflicted with Shaolin Temple, holds 70 percent equity of Yuanhan Industry.
According to Shaolin temple's official website, the Shaolin Intangible Assets Management Center was established in 1998 with a mission to ensure the preservation and sustainable development of the brand of “Shaolin”. The company mainly carries on the effective protection to Shaolin Temple's trademark, brand and other intangible assets.
Shi Yongxin, current abbot of the Shaolin Temple holds an 80 per cent share of the Shaolin Intangible Assets Management Center, according to Tianyancha.
