[Caihua News] Fengsheng Holdings (00607-HK) announced that it sold a total of 34.016 million shares of C&D International (01908-HK) from December 24 to September 18, 2018, at a total cost of 242 million yuan.

The group has confirmed an audited pre-tax loss of approximately $18 million for the year ended December 31, 2018 with respect to sales agreements, and estimates that it will record unaudited pre-tax revenue of approximately $29 million in respect of on-market sales. It is proposed that the net proceeds from these sales be approximately $242 million. The proceeds will be used to repay loans and interest, working capital and other future investment opportunities.

Currently, the company still holds 259.84 million shares of C&D International, accounting for 2.86% of its share capital.