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Shengtai Group: Plans to sell a 70% stake in Haotai Textile, with a transaction amount of 190 million RMB
Shengtai Group Announcement: Its wholly-owned subsidiary, Shengzhou Shengtai Knitting Co., Ltd., plans to sell 70% of its wholly-owned subsidiary Zhejiang Haotai Textile Intelligent Manufacturing Co., Ltd. to Ningbo Haotai Enterprise Management Consulting Co., Ltd. The transaction amount is 190 million RMB.
After the transaction is completed, the company’s wholly-owned subsidiary, Shengtai Knitting, will hold a 30% stake in Haotai Textile, and Haotai Textile will no longer be included in the company’s consolidated financial statements.