Zhejiang Yueling to Sell Wenling, China Industrial Property for 21 Million Yuan

MT Newswires Live09-17

Zhejiang Yueling (SHE:002725) plans to sell the industrial real estate in Wenling city in China to Taizhou New Energy for RMB 20.9 million yuan.

The property had a book value of 4.1 million yuan, yielding an increase of 408%, according to a Wednesday filing with the Shenzhen bourse.

The aluminum alloy wheel manufacturer expects to recognize about 11 million yuan in pre-tax profit from the sale.

Shares of the company closed 1% higher Wednesday.

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