Defu Technology to Transfer Electrolytic Copper Foil Business' Assets to Two Subsidiaries

MT Newswires Live2024-11-29

Jiujiang Defu Technology (SHE:301511) plans to adjust its existing production, manufacturing and sales business and transfer some of the business' assets to two subsidiaries, according to a Shenzhen Stock Exchange filing on Thursday.

The Chinese copper product manufacturer will transfer the production assets of the electrolytic copper foil business to Defu New Energy, the electronic special materials manufacturing unit, and the sales assets of the same business to Jiujiang Defu Sales, the electronic materials trading subsidiary.

The final amount of transferred assets will be based on the actual book value of the transfer, which will have the base date on Dec. 31, the filing said.

The company's shares rose more than 1% at the close.

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