Gelonghui Sansheng Holdings (02183.HK) announcement on November 16thOn November 16, 2021, Yangzhou Sansheng, an indirect non-wholly-owned subsidiary of the Company, entered into an equity transfer agreement with Beihai Shengqi (Purchaser), pursuant to which Yangzhou Sansheng has agreed to sell and the Purchaser has agreed to acquire the entire equity interest in Harbin Lifu Shopping Mall Co., Ltd., the target company, at a consideration of RMB350 million.
The target company is mainly engaged in property investment. The main asset of the target company is Harbin Lifu Mall, which is located at 86 Central Street, Daoli District, Harbin City, Heilongjiang Province, China, with a floor area of 10089.48 square meters. The property is currently used for rental purposes.
The Board considers that the sale is a good opportunity for the company to realize the value of the target assets at a reasonable price, and that the proceeds from the sale will enable the Group to reallocate more financial resources to potential future investment opportunities, or invest into the day-to-day operation and development of the Group as working capital.