08189.HK announced that it entered into an equity transfer agreement yesterday (28th) to sell 30.2653% of its stake in Tianjin Alfa to the buyer at a cash consideration of RMB 10.86 million (the same below). Upon completion, the company will no longer hold any equity interest in Tianjin Alfa. In order to ensure the timely implementation of the equity transfer agreement, the company signed equity pledge agreements with the buyer and Tianjin Hu Yang Lin respectively.
Teda Biology pointed out that Tianjin Alfa has been in a state of loss since 2014. In view of the uncertainty about the future of Tianjin Alfa, the board of directors believes that the sale is a good opportunity for the company to realize its investment in Tianjin Alfa. The sale is expected to earn 6.9122 million yuan.