Mei Ri Jing Ji Xin Wen·2026-01-08 16:09Core Viewpoint - The company Tubaobao plans to sell approximately 19.8% of its shares in Daziran China for 400 million yuan, while also engaging in a strategic partnership involving asset injection into joint ventures [2][3]. Group 1: Transaction Details - Tubaobao will sell its stake in Daziran China to its actual controller, She Xuebin, for 400 million yuan, aiming to optimize its asset structure and focus on core business [3]. - The transaction includes a provision for Daziran China to restructure and inject specific assets into joint ventures, after which Tubaobao will acquire specific equity in these joint ventures for 305 million yuan [5]. Group 2: Financial Performance of Daziran China - Daziran China reported total assets of approximately 504.92 million yuan and total liabilities of about 372.76 million yuan as of December 31, 2024 [4]. - For the first three quarters of 2025, Daziran China experienced a loss exceeding 72 million yuan despite generating revenue of 164.56 million yuan [4]. Group 3: Tubaobao's Investment Strategy - Tubaobao is recognized as a prominent supplier in the furniture board industry and has a strong investment portfolio, including stakes in companies like Hanhigh Group and Lianxiang Co., which are either listed or in the process of going public [6]. - The company holds approximately 740,000 shares in Hanhigh Group, which saw a stock price increase of over 400% upon its listing in July 2025 [6].