CONTEL sells integrated circuit subsidiaries for 100,000 RMB
CONTEL (01912.HK) announced the sale of 100% equity in its integrated circuit subsidiaries - Shanghai Yinghao Microelectronics and Chengdu Feihuan Electronics (Target Group) to an independent third party for a cash consideration of 100,000 RMB. Based on the Target Group's net total liabilities of 5.6 billion RMB as of March, the sale is expected to record a profit of approximately 5.7 billion RMB
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