On February 26, Gelonghui reported that Henan Zhongfu Industrial (600595.SH) announced that its wholly-owned subsidiary Henan Zhongfu Electrical Utilities Co., Ltd. (referred to as 'Zhongfu Electrical Utilities') plans to transfer its receivables from Henan Huanghe Heluo Water Affairs Co., Ltd. (referred to as 'Heluo Water Affairs') to the company's controlling Shareholder, Henan Yulian Energy Group Co., Ltd. (referred to as 'Yulian Group'), with the transfer price being the assessed market value of 0.135 billion yuan.
This debt transfer will help the company activate existing Assets, improve the efficiency of fund utilization, reduce risks, and will not harm the interests of the company and its Shareholders, nor will it have a significant adverse impact on the company's Operation management and financial condition.