Hansi Energy (00554) announced that on November 23, 2023, the company's direct wholly-owned subsidiary Chuangfengguo...
Zhitong Finance App, Hansi Energy (00554) announced that on November 23, 2023, the company's wholly-owned subsidiary Chuangfeng International (as transferor) entered into a concession deed with Chantilly (as transferee) and general partners. Chuangfeng International agreed to sell and transfer all rights, ownership and interest in the limited partnership (Templewater I, L.P.) to Chantilly at a cost of approximately US$16.570,800.
The announcement said that when investing in a limited partnership, the limited partnership company is actively considering (including) investing in the energy industry to cooperate with the group's business. The company noted that after investing more than 75% of the paid-in capital of the limited partnership, the limited partnership did not invest in the energy industry. As a result, the director believes that investing in limited partnership companies is no longer in line with this strategy. Since the equity of the limited partnership company is not a highly liquid investment, and the amount of pledged capital of about US$4.3 million (equivalent to about HK$33 million) has not yet been invested; if the group continues this investment, it is responsible for fulfilling this investment, and the positive return on Chuangfeng International's net paid-in capital, the directors believe that the sale is a good opportunity for the group to exit and monetize the investment, which can enhance the group's cash flow and improve its liquidity position. The increased cash flow will provide the company with financial flexibility and resources to consider and explore potential investment or acquisition opportunities that may arise.