On May 20th, 2024, Hebei Cons (01727.HK) announced that it had signed an equity transfer agreement with Baoding Qiande and Baoding Qianyao (as buyers) as the seller. According to the agreement, the company agrees to sell and Baoding Qiande and Baoding Qianyao agree to buy 100% of the equity in the building project, at a total price of RMB 101 million.

Zhong Wei Construction is a limited liability company registered in China on November 13th, 2009, mainly engaged in architecture engineering services.

The sale of 100% equity in the target company is based on the company's business layout needs and the accounting treatment needs of past transactions, which is in line with the company's overall long-term development strategy and does not harm the interests of small and medium-sized investors.