GREAT-SUN(SH:603336) Zhong Zheng Wang·2025-11-15 03:44Core Viewpoint - The company plans to sell 100% equity of its wholly-owned subsidiaries, Fujian Honghui Fruits and Vegetables Co., Ltd. and Yantai Honghui Food Co., Ltd., through a public listing, with a starting price of 58.9516 million yuan, aiming to optimize resource allocation and improve operational efficiency [1][2]. Group 1: Strategic Considerations - Fujian Honghui has ceased operations due to resource depletion and its assets are currently idle, while Yantai Honghui operates normally but has overlapping functions with another subsidiary, Tianjin Honghui [2]. - The transaction is expected to integrate Yantai Honghui's procurement channels and processing capabilities into Tianjin Honghui, enhancing scale and synergy [2]. - The company asserts that the transaction will not materially impact overall business operations, as customer resources and core operational capabilities remain stable at the parent company level [2]. Group 2: Financial Implications - The sale is projected to significantly improve the company's cash flow, with outstanding operational funds owed to the parent company amounting to 8.0853 million yuan from Fujian Honghui and 440 million yuan from Yantai Honghui [2]. - The company will require the buyer to settle all outstanding amounts before the equity transfer, which will enhance cash reserves and reduce financial risk [2][3]. - The transaction is not expected to have a major impact on the 2025 operating performance and profits, but will help optimize asset structure and improve overall operational quality [3]. Group 3: Market Analysis - Industry analysts view the asset sale as a strategic move to dispose of inefficient assets while consolidating quality resources and improving cash flow [3]. - The company's proactive approach to optimizing asset structure and enhancing operational efficiency is seen as a reflection of high-quality development in the current economic environment [3]. - Following the completion of the transaction, the company is expected to focus more on core business areas, thereby enhancing market competitiveness [3].