Kersen(SH:603626) Chang Jiang Shang Bao·2025-12-09 23:33Core Viewpoint - Kosen Technology (603626.SH) is selling its wholly-owned subsidiary, Jiangsu Kosen Medical Devices Co., Ltd., for 915 million yuan to improve liquidity and focus on its core business after facing continuous losses in recent years [2][4][10] Group 1: Asset Sale Details - The sale involves transferring 100% equity of Kosen Medical to Jiangsu Yaoling Medical Technology Co., Ltd., a subsidiary of FSP Holdings Pte. Ltd., which is backed by LYFE Capital, a global investment platform in the healthcare sector [5][6] - The transaction is expected to increase Kosen Technology's investment income by approximately 600 million yuan in 2025, classified as non-recurring gains [4][6] Group 2: Financial Performance - Kosen Technology reported a cumulative loss of 873 million yuan attributable to shareholders from 2023 to the first nine months of 2025 [2][8] - As of September 2025, the company had total assets of 5.12 billion yuan and a debt-to-asset ratio of 58.34%, with accounts receivable amounting to 1.174 billion yuan [3][10] - In 2023 and 2024, the company experienced revenues of 2.597 billion yuan and 3.382 billion yuan, respectively, with net losses of 281 million yuan and 477 million yuan [8] Group 3: Business Focus and Strategy - Kosen Technology aims to exit the medical business to concentrate on its core operations in precision metal and plastic components for consumer electronics, while also exploring new sectors like energy storage [7][10] - The decision to divest from Kosen Medical is part of a broader strategy to optimize asset allocation and ensure sustainable business development [6][10]