Yueyun Trans (03399.HK) announced on October 9th, 2024 that the company entered into a property trade contract and supplemental agreement with Yangjiang Investment. According to this, Yangjiang Investment conditionally agreed to purchase, and the company conditionally agreed to sell, 51% equity held by Yueyun Langri, at a price of RMB 99.61 million.

Yueyun Langri primarily operates road passenger transportation business. With the diversification of people's travel methods, the continuous increase in high-speed rail and light rail mileage in recent years, the continuous growth of private car numbers, changes in people's travel habits, the road passenger transportation market has been severely impacted, and passenger flow has sharply declined, leading to a continuous decline in Yueyun Langri's business volume. The sale will help optimize the company's asset structure, enhance the overall profitability of the company, and the proceeds from the sale will be used to supplement the company's operating funds, which is beneficial for the overall development of the company.