Weizhi Holdings (01305) announced that on December 22, 2023, the company is an indirect wholly-owned subsidiary of Weizhi Optoelectronics (...
According to the Zhitong Finance App, Weizhi Holdings (01305) announced that on December 22, 2023, Weizhi Optoelectronics (Shenzhen) Co., Ltd., an indirect wholly-owned subsidiary of the company, plans to transfer 100% of the shares of Three Gorges Weizhi Optoelectronics (Yichang) Co., Ltd. to Shenzhen Shaohua Weizhi Technology Co., Ltd., at a cost of RMB 6.9 million. The Group expects to earn unaudited revenue of approximately RMB 590,000 as a result of the sale.
According to reports, the sales company is mainly engaged in manufacturing and selling LED lighting products and providing LED lighting installation services. Since 2021, apart from holding land use rights in Yichang, China, the sale company has had no active business activities or operations.
The Board believes that the sale will allow the company to optimize its asset structure, thereby improving the overall quality of the company's assets. The sale will not have any significant or negative impact on the Group's normal business operations or its production and financial situation, nor will it cause any significant changes in the Group's financial situation and operating performance.