Summary by Futu AI
Skyworth Group announced on September 13, 2024 that its indirect wholly-owned subsidiary, Shenzhen Skyworth-RGB, has signed a sale agreement with LG Display (Guangzhou) Co., Ltd., agreeing to sell its 10% equity stake in the target company for RMB 1.3 billion. LG Display (Guangzhou) Co., Ltd. is a subsidiary of LG Display Co., Ltd. (listed in New York and South Korea). After the completion of this transaction, Skyworth Group will no longer hold any equity stake in the target company. According to the listing rules, this transaction is a disclosable transaction as the applicable percentage exceeds 5% but is below 25%. Skyworth Group stated that this sale will not affect the profit for the year ending on December 31, 2024, and the equity holders' share of profit. The proceeds from the sale will be used for the group's business operations and working capital.