HZIS: Plans to transfer subsidiary equity for 508 million yuan
On August 22, HZIS announced that the company plans to transfer 97% equity of its holding subsidiary Zhejiang New Century Recycling Resources Development Co., Ltd. and 100% equity of its wholly-owned subsidiary Zhejiang Deqing HZIS Fuchun Recycling Technology Co., Ltd. to the related party Zhejiang Resource Recycling Co., Ltd., with a total transaction price of 508 million yuan. After the transaction is completed, the target company will no longer be included in the company's consolidated financial statements, and the company will become an important shareholder holding 40% of Resource Recycling Company
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