Cuihua Gold and Silver Jewelry's Subsidiary to Dispose Stake in Chemical Making Sub-Unit for 1.2 Million Yuan

MT Newswires Live11-26

Shenyang Cuihua Gold and Silver Jewelry's (SHE:002731) subsidiary, Sichuan Sitery Lithium Industry, plans to offload 2% of its equity in sub-unit, Hubei Phosphofluorine Lithium Industry, for 1.2 million yuan, according to a Shenzhen bourse filing on Wednesday.

Hubei Xingfa Chemical Group will buy the stake in the chemical manufacturer, which produces phosphorus, sulfur, and fluorine. Its stake in Phosphofluorine Lithium will rise to 51% from 49%.

After the transaction, Sitery Lithium's holdings in Phosphofluorine Lithium will slip to 49% from 51%.

The Chinese gold and silver jewelry manufacturer's shares slid less than 2% during the afternoon trade.

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