Estun Automation (002747.SZ) Subsidiary Plans to Sell Stake in Associate Company Yangzhou Shuguang

Stock News08-19

Estun Automation Co.,Ltd. (002747.SZ) announced that the company and its controlling subsidiary Nanjing Dingkong Mechanical and Electrical Technology Co., Ltd. ("Dingkong") have signed a Transaction Framework Agreement with Wuxi Xinhongye Cable Technology Co., Ltd. ("Xinhongye") and Shuguang Lanfengqi (Nanjing) Technology Partnership (Limited Partnership) ("Shuguang Lanfengqi"). Under the agreement, Dingkong and Shuguang Lanfengqi plan to transfer their respective 48% and 14% stakes in Yangzhou Shuguang Photoelectric Automatic Control Co., Ltd. ("Yangzhou Shuguang") to Xinhongye. Upon completion of the transaction, Dingkong will no longer hold any equity interest in associate company Yangzhou Shuguang. The announcement stated that this transaction will help optimize the company's resource allocation and industrial layout, enabling the company to focus more on its current core business and target markets.

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