HAC plans to transfer its 40% equity stake in its controlling subsidiary, Fushan Chuan
HAC plans to transfer 40% equity of its holding subsidiary Fushan Chuan due to insufficient market competitiveness, lack of synergy between the biotechnology business and HAC's core business, and a continuous decline in operating income over the past three years. This equity transfer aims to optimize resource allocation, reduce management costs, and improve asset operation efficiency
According to the announcement from Haikong Tiaodong (600202.SH), the company plans to transfer its 40.00% equity stake in Harbin Fushanchuan Biotechnology Development Co., Ltd. (hereinafter referred to as "Fushanchuan") and will pre-list it on the Heilongjiang United Property Rights Exchange.
The announcement states that Fushanchuan lacks market competitiveness, its biotechnology business has no synergy with Haikong Tiaodong's core business, and its resources are dispersed. The scale of its niche market is limited, and its operating revenue and profits have continued to decline over the past three years. The company's plan to publicly list the transfer of its equity in Fushanchuan is one of the management measures to improve quality and efficiency, which is beneficial for the company to focus on its main business, further optimize resource allocation and asset structure, reduce management and operational costs, and improve asset operation efficiency
