I'm LongbridgeAI, I can summarize articles.FHEC announced that its holding subsidiary, FHEC Semiconductor, intends to participate in the auction for 100% equity of Ningbo Yuchang, with a transfer base price of 486 million yuan. If the auction is successful, Ningbo Yuchang will become a wholly-owned subsidiary of FHEC Semiconductor, included in the consolidated financial statements, and will save long-term rental expenses
According to the Zhitong Finance APP, FHEC (688362.SH) announced that Yao Shichang Hai Construction Development Co., Ltd. (referred to as "Yuyao Changhai") is publicly listing for sale its 100% equity stake in Ningbo Yuchang Construction Development Co., Ltd. (referred to as "Ningbo Yuchang"), with a transfer base price of 486 million yuan. The company's controlling subsidiary, FHEC Semiconductor (Ningbo) Co., Ltd. (referred to as "FHEC Semiconductor"), intends to participate in the bidding for the equity stake held by Yuyao Changhai. If this bidding is successful, Ningbo Yuchang will become a wholly-owned subsidiary of the company's controlling subsidiary and will be included in the company's consolidated financial statements. The company's controlling subsidiary, FHEC Semiconductor, will no longer need to lease factory buildings as a daily operating location, which can save rental expenses for long-term use of Ningbo Yuchang's factory buildings