On November 15, Gelonghui reported that Cinda Intl Hldg (00111.HK) announced that on November 13, 2024, the company received a notification from the Shanghai United Assets and Equity Exchange, indicating that the buyer submitted a bid price of 16.95 million yuan for the public listing announcement regarding the sale of Cinda Intl Shanghai during the bidding period.
After the trading session on November 15, 2024, the company entered into a property trading contract with the buyer, whereby the company agreed to sell and the buyer agreed to purchase 50% of the equity in Cinda Intl Shanghai for 16.95 million yuan.
Cinda Intl Shanghai is mainly engaged in the establishment of various partnerships and managing investments in such enterprises in China.
To optimize resources and streamline the group structure, the company intends to sell its equity in Cinda Intl Shanghai. The sale of Cinda Intl Shanghai will help the group reallocate resources to other existing or market-oriented businesses. The board of directors believes that the sale of Cinda Intl Shanghai will provide a solid foundation for the group to achieve overall stable operations and promote sustainable development.