According to the Zhitong Finance App, China Aviation Technology and Industry (02357) announced that in order to further optimize resource allocation and revitalize existing assets, on May 21, 2024, the company and China Aviation Airborne Board approved the asset transaction contract between Qianshan Electronics and Aviation Industry Computing. Qianshan Electronics will sell target assets to Aviation Industry Computing for a consideration of approximately RMB 659 million. The group is expected to confirm revenue of approximately RMB 659.474 million as a result of the sale. On the date of this announcement, Qianshan Electronics is a wholly-owned subsidiary of China Aviation Aircraft Corporation (a non-wholly-owned subsidiary of the company).

According to reports, the target assets are houses (including land use rights), structures, and some equipment located in G16, South Third Ring Road, Gaoxin District, Xi'an.

The announcement stated that the sale will help the Group further optimize resource allocation and revitalize existing assets. The board of directors expects that the net proceeds from the sale will be used for the construction of the Qianshan Electronics Changning Park (Phase II) project, which will help Qianshan Electronics consolidate and enhance its core development capabilities, reduce operating costs, and improve overall efficiency.