Core Viewpoint - The company, Zhengtong Automobile, has announced a conditional agreement to sell its subsidiary, Shenzhen Huianqi, for approximately RMB 803 million, aiming to improve its capital and debt structure while focusing on its core automotive business [1][2][3] Group 1: Sale Agreement Details - The sale involves the transfer of 100% equity of Shenzhen Huianqi, which holds the main asset of a property located in Shenzhen, China [1][2] - The expected revenue from the sale is approximately RMB 34.26 million after deducting related debts of about RMB 353 million as of March 31, 2025 [3] - The company plans to use 60% of the proceeds from the sale to repay bank loans and the remaining 40% to enhance operational cash flow, particularly for international expansion and electric vehicle transformation [3] Group 2: Strategic Focus and Market Conditions - The company is committed to focusing on automotive sales and related businesses, moving away from property development due to the challenges faced in the traditional automotive dealership industry [2] - The property development in Shenzhen is still in its early stages and would require significant additional development costs, prompting the decision to sell [2] - The sale is seen as a way to alleviate financial burdens associated with further capital expenditures on the Shenzhen property, allowing management to concentrate on the core automotive business [2]
正通汽车(01728)：启富集团拟8.03亿元出售深圳汇安启全部股权 聚焦汽车主业转型