ST Bauing Decoration plans to list and transfer 50.1% equity of Danhua Renewable Energy, focusing on core business development
ST Bauing Decoration plans to publicly list and transfer its 50.1% equity in Danhua Renewable Energy through the Guangdong United Property Exchange Center, with a listing price of 30 million yuan. Danhua Renewable Energy is still in its startup phase and has not generated operating income. This transfer will help the company focus on its core business and is expected to have a positive impact on the financial situation for the year 2025, with a profit and loss of approximately 29.4 million yuan
According to the Zhitong Finance APP, *ST Bauing (002047.SZ) announced that in order to optimize resource allocation, the company plans to transfer 50.1% of its equity in Danhua Renewable (Zhuhai) New Energy Technology Co., Ltd. (referred to as "Danhua Renewable") through public listing at the Guangdong United Property Rights Exchange Center. The initial listing price for this transaction is set at 30 million yuan, based on the premise of not being lower than the equity appraisal price. The final transaction price and counterpart will be determined according to the results of the public listing.
As of now, Danhua Renewable is still in its startup phase and has not generated actual operating income, which has not had a significant impact on the company's operating status. Danhua Renewable's wholly-owned subsidiaries, Junan Yitang New Energy Co., Ltd. and Junan Tangneng Optoelectronic Technology Co., Ltd., have received approval documents for wind power projects issued by the Linyi Administrative Approval Service Bureau. However, due to changes in the market and policy environment, the financial returns of the project did not meet expectations, prompting the initiation of this equity transfer.
If this transfer is successfully completed, the company will no longer hold equity in Danhua Renewable and will not include it in the consolidated financial statements, which will help better focus on the development of the company's core business and align with the company's development strategy. This transaction is expected to have a positive impact on the company's financial condition and operating results for the fiscal year 2025, with an estimated impact on current profit and loss of approximately 29.4 million yuan based on the initial listing price
