LONCIN(SH:603766) Tai Mei Ti A P P·2025-11-14 10:33Core Viewpoint - Longxin General (603766.SH) announced the transfer of 49.9988% equity in Zhuhai Longhua Helicopter Technology Co., Ltd. and 66% equity in Zunyi Jinye Machinery Casting Co., Ltd. for a total of approximately 105.6 million yuan, marking a significant step in the company's asset divestiture strategy, albeit at a high cost of expected losses totaling 75.89 million yuan [2][3][4]. Group 1: Asset Transfer Details - The transfer of Zhuhai Longhua's equity was executed at a symbolic price of 1 yuan, reflecting the deteriorating asset value, with an anticipated loss of 36.22 million yuan for the company in 2025 [3][4]. - Longxin General has provided a total of 69.89 million yuan in loans to Zhuhai Longhua, which is at risk of being unrecoverable due to the company's negative net asset status of -67.35 million yuan [4][5]. - The transfer of Jinye Machinery was conducted at a significant discount of 68.31%, with a total equity value of 234 million yuan, resulting in an expected loss of 39.67 million yuan for 2025 [5][6]. Group 2: Strategic Focus and Performance - Longxin General has been pursuing a strategy to focus on its core business since 2021, gradually divesting non-core assets, with the recent transfers marking an acceleration in this process [6][7]. - Despite the short-term losses from asset divestiture, the company's core business has shown strong performance, with a revenue of 14.557 billion yuan in the first three quarters of 2025, a year-on-year increase of 19.14%, and a net profit of 1.577 billion yuan, up 75.45% [6][7]. - The company’s motorcycle business generated 10.714 billion yuan in revenue, reflecting a 14.91% increase, while the general machinery segment saw a 42.54% growth [6][7].