According to the needs of the company's strategic development, Huacong plans to sell 17.5 million yuan to the subsidiary of the subsidiary to owns the property rights

On July 18, 2022, the New Third Board Enterprise Huatong (870225.NQ) recently issued an announcement for the sale of assets.

The announcement shows that according to the needs of the company's strategic development, in order to further optimize the asset structure, the company plans to sell new non -active property rights owned by the company's subsidiaries to Nanto's subsidiaries in Ningbo Jade Bay and other places.

The company's recent audited 2021 consolidated financial audit report period at the end of the company's total assets were RMB 354,754,540.09, and the net assets at the end of the period were RMB 223,480,881.98.

The sale of the real estate department for the first time will be sold for the first time in the past 12 months. The company's recent audited consolidated financial accounting statement at the end of the company's net assets at the end of the period of net assets was 7.83%. In summary, the transaction did not meet the above standards and did not constitute a major asset reorganization.

The third meeting of the third board of directors held on July 18, 2022 reviewed and approved the "Regarding Assets" proposal. The transaction amount reaches the standard for the general meeting of the shareholders 'meeting, which needs to be submitted to the company's shareholders' meeting for consideration.

Huatong shares said that the sale of assets is based on the company's operating development and conducive to optimizing the company's resource allocation, improving the efficiency of the company's assets, and helping to ensure that the company's funds are used for production and operation, and the development of the main business is better. It will not affect the company's daily operations, and will not adversely affect the company's future development.

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