Yida China (03639) issued an announcement. On April 22, 2024, the seller's wholly-owned subsidiary was large...
Zhitong Finance App News, Yida China (03639) announced that on April 22, 2024, the seller's wholly-owned subsidiary Dalian Science and Technology City Development Co., Ltd., the buyer Dalian Junda Education Enterprise Management Co., Ltd., target company 1 Dalian Science and Technology City Xinrui Development Co., Ltd. and target company 2 Dalian Science and Technology City Terry Development Co., Ltd. entered into an equity transfer agreement. According to this, the seller has conditionally agreed to buy the rights to be sold (all shares of target company 1 and target company 2) (together with loans). 1.13 billion yuan.
According to the announcement, the company has been facing liquidity pressure since 2019. To improve its liquidity and access financing to meet the Group's financial needs, the company has been actively seeking potential buyers for its assets in China on terms that meet the overall best interests of the company and its shareholders.
The sale provided the Group with an opportunity to realise the value of its investments in target companies and relieve the Group's liquidity pressure by obtaining immediate cash inflows. The sale helps the Group to optimize its resource allocation, thereby helping the Group reduce risk and achieve stable development.