China Huirong Financial to Dispose of Step-Down Subsidiary for 77 Million Yuan

MT Newswires Live12-17

China Huirong Financial Holdings' (HKG:1290) subsidiary Suzhou Huifang Supply Chain Management agreed to sell 100% equity interest in Suzhou Huifang Dingqian Information Technology Services, the owner of the Hongzhuang Commercial Property.

The subsidiary will be sold to Suzhou Xinwei Enterprise Management for 77.0 million yuan, according to a Monday bourse filing.

The Hongzhuang Commercial Property comprises two buildings and the corresponding parcel of land in Wuzhong District, Suzhou, China, with a site area of 10,896.2 square meters and a total gross floor area of 13,060.36 square meters.

The group stands to make a gain on the disposal of 6.2 million yuan and plans to use the proceeds from disposal on the general working capital of the group.

The shares of the management consulting company closed over 2% lower on Tuesday.

Price (HKD): $0.80, Change: $-0.020, Percent Change: -2.44%

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