TYHI(SH:600169) Zheng Quan Shi Bao Wang·2025-12-05 12:56Core Viewpoint - ST TaiZhong plans to sell 100% equity of its wholly-owned subsidiary, Shanxi TaiZhong Coking Equipment Co., Ltd., to its controlling shareholder, TaiZhong Group, for 618 million yuan to optimize asset structure and improve liquidity and debt repayment capability [1][2] Group 1: Company Actions - The transaction is classified as a related party transaction since TaiZhong Group holds 51.40% of ST TaiZhong's shares [1] - The coking equipment company has been operating at a loss for several years, with no current measures to return to profitability [2] - After the sale, ST TaiZhong's total assets and liabilities will decrease, enhancing its financial condition and operational results [2] Group 2: Industry Context - The coking industry is facing challenges due to the weak steel sector, leading to a continuous reduction in profit margins [2] - From 2022 to 2024, the revenue of ST TaiZhong's coking segment is expected to decline by approximately 70% annually, with an average gross margin decrease of about 6 percentage points each year [2] - The "dual carbon" policy is influencing environmental regulations and capacity control, further impacting the coking business's revenue and profitability [2]