ST Dvision's subsidiary Dvision Ronghui plans to sell a 35% stake in Shaanxi Yanzhong
ST Dvision's subsidiary Dvision Ronghui plans to sell its 35% equity stake in Shaanxi Yanzhong for 50,000 yuan, and will no longer hold any equity in the company after the sale. This move is aimed at expanding business boundaries and acquiring companies with general contracting qualifications to develop new businesses. In recent years, the company's business model has transformed, gradually reducing such operations, hence the decision to transfer the equity
According to the announcement from *ST Dvision (300167.SZ), the company's controlling subsidiary Shenzhen Dvision Ronghui Investment Co., Ltd. (referred to as "Dvision Ronghui") will sell its 35% equity stake in Shaanxi Yanzhong Construction Engineering Co., Ltd. (referred to as "Shaanxi Yanzhong") to individual Xu Haoyang, with the sale price of the asset being RMB 50,000. After the completion of this equity transfer, Dvision Ronghui will no longer hold any equity in Shaanxi Yanzhong.
It is reported that Dvision Xun originally operated in urban information construction, smart park construction, and other businesses. Its subsidiary Hangzhou Jingcan Construction Labor Co., Ltd. has certain qualifications for construction labor services. Through Jingcan, it engages in subcontracting labor services. In order to fully explore business opportunities, expand business boundaries, and gain initiative and control over business acceptance and execution, it plans to acquire a company with general contracting qualifications to conduct business. Shaanxi Yanzhong has qualifications for secondary general contracting of construction projects, tertiary general contracting of municipal public works, and tertiary professional contracting of steel structure projects, which basically meets the company's business needs. Therefore, the company is acquiring equity in Shaanxi Yanzhong. In recent years, the company has been transforming its business types and models, reducing and gradually stopping such business operations, hence the transfer of its equity in the company
