LUXIN plans to transfer its 10.0581% equity stake in LUXIN Huijin for 203 million yuan

LUXIN announced that it will transfer its 10.0581% equity in LUXIN Huijin to Shandong Investment Co., Ltd. through a private agreement at a price of 203 million yuan. This move aims to focus on its main business and reduce related party transactions, with an expected investment return of approximately 24.407 million yuan. After the transaction is completed, LUXIN will no longer hold any equity in LUXIN Huijin

According to the Zhitong Finance APP, LUXIN (600783.SH) announced that in order to further focus on its main business and reduce related party transactions, the company plans to transfer its entire 10.0581% equity stake in Shandong LUXIN Huijin Holdings Co., Ltd. (referred to as "LUXIN Huijin") to Shandong Investment Co., Ltd. (referred to as "Shandong Investment") for a price of 203 million yuan through a non-public agreement. The profits and losses from the assessment benchmark date to the property transfer date will be enjoyed by Shandong Investment.

After the completion of this transaction, the company will no longer hold any equity in LUXIN Huijin, and the expected investment income from this equity transfer is approximately 24.007 million yuan