Shenzhen Gongjin Electronics Plans to Sell Entire Stake in Wenyuan Communication

Stock News08-13

Shenzhen Gongjin Electronics Co.,Ltd. (603118.SH) has announced its intention to transfer the entire 100% equity stake in its wholly-owned subsidiary, Shandong Wenyuan Communication Technology Co., Ltd. (referred to as "Wenyuan Communication").

This equity transfer will be pre-listed on the Shenzhen United Property and Equity Exchange. Since 2022, the private network market for public security, in which Wenyuan Communication operates, has experienced a significant downturn in market sentiment, leading to sustained performance pressure.

If the divestiture is successfully completed, it will help the company concentrate on its core business, further optimizing its asset structure and resource allocation.

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