Core Viewpoint - The company, Oriental Precision, announced the sale of its 100% stake in Fosber Group, Fosber Asia, and Tiruña Asia for a total cash consideration of €774 million (approximately ¥6.34 billion) to Foresight US and Foresight Italy, with the ultimate controlling party being Brookfield Corporation [1]. Group 1 - The transaction is expected to constitute a significant asset restructuring, with the target companies projected to account for 67.20% of the audited consolidated revenue of the listed company for 2024 [3]. - Oriental Precision acquired control of Fosber Group through a cross-border merger in 2014, which has since contributed substantial profits to the company [3]. - The company aims to focus its resources on core businesses such as water power equipment, aligning with national development directions, as part of its strategic restructuring and resource reallocation [3]. Group 2 - Following the transaction, Oriental Precision plans to increase investment in its water power equipment business, supporting its subsidiary, Baisheng Power, to become a world-class supplier [3]. - The company is also focusing on strategic emerging industries in manufacturing to accelerate its industrial transformation and upgrading [3]. - Oriental Precision's stock price has seen significant growth, reaching ¥18.4 per share with a year-to-date increase of 90.71%, resulting in a total market capitalization of ¥22.398 billion as of November 28 [3].
东方精工公布重大资产出售预案,交易基础价约63.4亿