Shangao Holdings (00412) issued an announcement. On December 15, 2023 (after the trading period), the company indirectly...
Zhitong Finance App News, Shangao Holdings (00412) issued an announcement. On December 15, 2023 (after the trading period), Shangao Shenzhen Investment, an indirect subsidiary of the company (as transferor and limited partner of the limited partnership), entered into a partnership transfer agreement with Shandong Express Logistics Group (as transferee). According to this, Shangao Shenzhen Investment has agreed to transfer to Shandong Express Logistics Group, and Shandong Express Logistics Group has agreed to invest in and subscribe for shares for sale from Shangao Shenzhen (that is, the limited partnership company Jinan Shangalu Qiao Jincheng Investment Co., Ltd.))'s 49.9376% equity), at a cost of RMB 292 million. Upon completion, the Group will no longer have any interest in the limited partnership.
According to the announcement, since the equity for sale is not a liquid investment, and if the investment continues, the unpaid capital for which the group is responsible will still bear RMB 108 million; and according to general partner information, the future revenue generated by the limited partnership is more difficult to predict due to the economic slowdown, the directors believe that the sale is a good opportunity for the group to exit and monetize its investment, which will enhance its cash flow and improve the group's liquidity situation. Cash inflows will provide the company with financial flexibility and resources to consider and pursue potential investment or acquisition opportunities as they arise.