Core Viewpoint - The company has agreed to sell a 59.694% stake in Shaoguan Yueyun to Xiake Zhixing for RMB 135 million, marking a complete exit from the passenger transport business due to significant market contraction and strategic realignment [1][2] Group 1: Company Actions - The sale is part of a strategic initiative to exit non-core and underperforming businesses, allowing the company to focus on its main operations [1][2] - After the sale, the company's financial statements will no longer consolidate the performance of Shaoguan Yueyun, enhancing asset quality and operational safety [1][2] Group 2: Market Context - The domestic road passenger transport market has significantly contracted due to the rapid development of rail transport, private cars, and ride-hailing services [1] - Shaoguan Yueyun has experienced continuous profit decline since 2020, with no reversal expected in the future [2] Group 3: Financial Implications - The valuation of Shaoguan Yueyun was assessed using both income and asset-based methods, yielding similar results [2] - The decision to sell is based on strategic, financial, and operational considerations aimed at long-term sustainable development and maximizing shareholder value [2]

Core Viewpoint - The company has agreed to sell a 59.694% stake in Shaoguan Yuyun to Xiake Zhixing for RMB 134.6 million, marking a complete exit from the passenger transport business due to significant market contraction and ongoing profit decline since 2020 [1][2] Group 1: Transaction Details - The sale price for the stake in Shaoguan Yuyun is RMB 134.6 million [1] - After the transaction, the company will no longer hold any equity in Shaoguan Yuyun, and its financial performance will not be consolidated into the company's financial statements [1] Group 2: Strategic Rationale - The decision to exit the passenger transport business is part of a broader strategy to implement an exit mechanism for underperforming enterprises and to divest non-core and non-advantageous businesses [1] - The company aims to enhance asset quality and operational safety by shedding this high-risk, non-core business, thereby freeing up valuable management and financial resources [2] - The strategic decision is based on comprehensive considerations of strategic, financial, and operational factors, aimed at achieving long-term sustainable development and maximizing shareholder value [2]

Group 1 - The company has entered into a conditional equity transaction agreement with Xiake Zhixing to sell a 59.694% stake in Shaoguan Yuyun for RMB 135 million, which will result in the company no longer holding any equity in Shaoguan Yuyun and its financial performance will not be consolidated into the company's financial statements [1] - The domestic road passenger transport market has significantly contracted due to the rapid development of rail transit, private cars, and ride-hailing services, prompting the company to fully exit the passenger transport business as part of a strategy to divest non-core and non-advantageous operations [1][2] Group 2 - Shaoguan Yuyun has been experiencing continuous profit decline since 2020, and this trend is expected to continue, leading to the decision to divest as a strategic loss mitigation and resource optimization move [2] - The divestment of Shaoguan Yuyun, which is considered a high safety risk and misaligned with the company's strategy, will significantly enhance asset quality and operational safety, allowing the company to focus on core businesses with competitive advantages and growth potential [2] - The decision to sell is based on a comprehensive assessment of strategic, financial, and operational factors aimed at achieving long-term sustainable development and maximizing shareholder value [2]