Summary by Moomoo AI
HAJING TAIFU GROUP ANNOUNCED ON 9 JANUARY 2024 THAT ITS WHOLLY OWNED SUBSIDIARY HAS SIGNED AN EQUITY TRANSFER AGREEMENT WITH A BUYER TO SELL A 50% STAKE IN NINGBO MIRU FOR A TOTAL TRANSACTION COST OF RMB4 BILLION. THE TRANSACTION IS DISCLOSEABLE PURSUANT TO SECTION 14.07 OF THE LISTING RULES BUT IS EXEMPT FROM SHAREHOLDER APPROVAL. After the sale is completed, Jingtai Fu will no longer hold any interest in the target company and is expected to record a loss of approximately RMB 1.665 million. The Board believes that the sale will help the Group concentrate resources on core projects and reduce overall outstanding debt. The buyer is a wholly owned subsidiary of U.S. Real Estate, and the transaction will be fully deducted from the loan, and Jingtai Wealth will not receive cash.