According to the Zhitong Finance App, China Water Industry Group (01129) announced that on March 25, 2024, Yicheng Investment Co., Ltd., a direct wholly-owned subsidiary of the company, plans to sell all shares of Anfa International Co., Ltd. to Haitian Water Group Co., Ltd. (603759.SH) at a total cost of RMB 270 million. The Group expects to obtain approximately HK$128 million in revenue from the sale.

As of the date of this announcement, the company to be sold is wholly and beneficially owned by the seller. It is an investment holding company.

The Board believes that the sale will enable the Group to implement its plans and focus on its core divisions by better allocating its resources to develop its core business.