Summary by Moomoo AI
On 22 April 2024, Yida China announced that it had signed an equity transfer agreement with the buyer, Dalian Jundai Education Enterprise Management Co., Ltd., to sell 100% of its wholly-owned subsidiaries Dalian Technology Cheng-Xinyi Development Co., Ltd. and Dalian Technology City Taiyi Development Co., Ltd. The total exchange price of the transaction is approximately RMB112.6 million, which includes shareholder loans. The transaction will be completed in two phases and completed after certain conditions are met. Once completed, the target company will no longer be included in China's comprehensive financial statements. Pursuant to the listing rules, this sale constitutes a major transaction and has been approved in writing by the holding shareholders, Ka Yu & Zheng Hung Management Co., Ltd., without the need for a general meeting. The relevant circular is expected to be sent to shareholders on or before 14 May 2024. This sale is aimed at improving liquidity pressures in China and optimizing resource allocation.