Core Viewpoint - Dafu Technology plans to sell its 49% stake in Ulanqab Dasheng Graphite New Materials Co., Ltd. for a base price of 206 million yuan, aiming to optimize resource allocation and focus on its core business [1][4]. Group 1: Transaction Details - The board of Dafu Technology approved the proposal to sell the 49% stake in Dasheng Graphite on October 27, 2025, with the transaction to be conducted through public listing [1]. - The assessed value of Dasheng Graphite is 419 million yuan, with a book value of 384 million yuan, resulting in a valuation increase of 9.27% [4]. - The final transaction price and results remain uncertain as the sale will be conducted through a public bidding process [1]. Group 2: Company Background - Dafu Technology, established a joint venture with Inner Mongolia Ruisheng New Energy Co., Ltd. in 2015, holds a 49% stake in Dasheng Graphite, which focuses on the research, production, and sales of graphite products [4]. - Dasheng Graphite's main products include high-purity graphite, expandable graphite, conductive agents, lithium-ion battery anode materials, and graphite processing services, serving industries such as metallurgy, chemicals, electronics, and new energy batteries [4]. Group 3: Financial Performance - Dafu Technology has experienced continuous revenue decline and losses in recent years, with revenues of 2.495 billion yuan in 2023 and 2.324 billion yuan in 2024, representing year-on-year decreases of 3.75% and 6.88%, respectively [5]. - The net profit attributable to the parent company was -170 million yuan in 2023 and -476 million yuan in 2024, indicating an expanding loss in 2024 [5]. - In the first three quarters of 2025, the company reported revenues of 1.764 billion yuan, a year-on-year increase of 1.9%, but still incurred a net loss of 170 million yuan, an improvement from a loss of 224 million yuan in the same period last year [6].