Tianjin Development's (00882) Subsidiary to Sell Entire Equity Stake in Baili Financial Leasing for 265 Million Yuan

Stock News01-27

Seller Tianjin Taikang Investment Co., Ltd. (Tianjin Taikang), a subsidiary in which the company holds an 82.74% equity interest, has entered into an equity transfer agreement with the buyer, Tianjin State-owned Capital Investment and Operation Co., Ltd. (Jin Tou Zi Ben), for the sale of the entire equity interest in Baili Financial Leasing (Baili Financial Leasing Co., Ltd.), with a consideration of RMB 265 million (equivalent to approximately HK$294 million). Baili Financial Leasing is a limited liability company established in China, primarily engaged in financial leasing business, leasing operations, purchasing leased properties, leasing transaction consulting and guarantees (excluding financing guarantees), as well as commercial factoring business related to its main operations. To further concentrate resources on developing its core businesses, the Group has progressively reduced its investments in non-core operations. The primary business of Baili Financial Leasing is solely focused on the financial leasing business, which is considered non-core and lacks significant synergistic effects with the Group's core operations. This disposal aligns with the overall strategic plans of both Tianjin Taikang and the Group. The Board of Directors believes that the disposal will enhance the operational efficiency of the Group's assets, optimize the Group's resource allocation, and strengthen the Group's cash flow.

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(Tianjin Taikang), a subsidiary in which the company holds an 82.74% equity interest, has entered into an equity transfer agreement with the buyer, Tianjin State-owned Capital Investment and Operation Co., Ltd. (Jin Tou Zi Ben), for the sale of the entire equity interest in Baili Financial Leasing (Baili Financial Leasing Co., Ltd.), with a consideration of RMB 265 million (equivalent to approximately HK$294 million).\nBaili Financial Leasing is a limited liability company established in China, primarily engaged in financial leasing business, leasing operations, purchasing leased properties, leasing transaction consulting and guarantees (excluding financing guarantees), as well as commercial factoring business related to its main operations.\nTo further concentrate resources on developing its core businesses, the Group has progressively reduced its investments in non-core operations.\nThe primary business of Baili Financial Leasing is solely focused on the financial leasing business, which is considered non-core and lacks significant synergistic effects with the Group's core operations.\nThis disposal aligns with the overall strategic plans of both Tianjin Taikang and the Group.\nThe Board of Directors believes that the disposal will enhance the operational efficiency of the Group's assets, optimize the Group's resource allocation, and strengthen the Group's cash flow.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1232","symbol_name":"复合型公用事业","start_time":0,"source_url":"","article_id":"1110055035","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1110055035","pubTimestamp":1769507301,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Seller Tianjin Taikang Investment Co., Ltd. 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