Shanghai Electric Group (HKG:2727, SHA:601727) completed the transfer of 47.4% of its subsidiary, Shanghai Electric Guoxuan New Energy Technology, according to a Hong Kong bourse filing on Tuesday.
The Chinese power generation equipment maker's Shanghai shares slipped during Wednesday's morning trade.
The company will no longer provide any guarantees or loans to Guoxuan New Energy after offloading it to Nanjing Gotion Holding Group for a transaction price of 1 yuan as part of a property rights transaction contract signed in May.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments