Haimo Technologies (300084.SZ) to Sell Entire Stake in Sitan Instruments for 370 Million Yuan to Boost Liquidity

Stock News12-09

Haimo Technologies Group Corp. (300084.SZ) announced plans to divest its entire equity stake in Xi'an Sitan Instruments Co., Ltd., a subsidiary under its control. The company has entered into a share transfer agreement with Xi'an Jingying Optoelectronic Technology Co., Ltd. ("Jingying Optoelectronic") and Mr. Wu Yanlin, agreeing to sell its 99.33% stake in Sitan Instruments for 370 million yuan.

The transaction includes Sitan Instruments' wholly-owned subsidiaries—Xi'an Sitan Software Technology Co., Ltd. ("Sitan Software") and Xi'an Sitan Oil & Gas Engineering Services Co., Ltd. ("Sitan Oil Services"). Upon completion, Haimo will no longer hold any shares in Sitan Instruments, and the subsidiary will cease to be consolidated in the company's financial statements.

Disclosed data shows Sitan Instruments incurred cumulative losses of 34.11 million yuan from 2020 to 2024. The proceeds from this divestment will strengthen Haimo's capital reserves to support its strategic pivot toward "developing a second growth curve."

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