Glonghui November 23丨Hansi Energy (00554.HK) announced that on November 23, 2023, Chuangfeng International (as transferor), a direct wholly owned subsidiary of the company, entered into a concession deed with Chantilly (as transferee) and general partner. According to this, Chuangfeng International agreed to sell and transfer to Chantilly, and Chantilly agreed to assume and receive all rights, ownership and interests of Chuangfeng International Limited's interests in the partnership company at a cost of US$16.57 million.
A limited partnership company is an exempted limited partnership company registered under the Cayman Islands Exempt Limited Partnership Companies Act (as amended). Limited partnership companies are mainly engaged in investing and managing funds.
When investing in a limited partnership, the limited partnership company is actively considering (including) investing in the energy industry to integrate 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. The directors believed that the sale was a good opportunity for the Group to exit and monetize its investments, which could 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.