ST LIFECOME plans to sell three subsidiaries of its photovoltaic film business at a price of 0 yuan
ST LIFECOME announced plans to sell three subsidiaries at a price of 0 yuan, divesting its photovoltaic film business. This transaction will lead to a decrease in the listed company's operating revenue scale, but a reduction in losses. Due to the mismatch of supply and demand in the photovoltaic industry and intensified competition, the related business has incurred significant losses. After the transaction, the company will focus on its animal health business, further consolidating its main operations
According to the Zhitong Finance APP, *ST LIFECOME (002868.SZ) announced that the company intends to sell its 100% equity in LIFECOME Yushan, LIFECOME Haining, and LIFECOME New Energy to Rao Xin New Energy through a cash transaction, with the total price for the 100% equity of LIFECOME Yushan, LIFECOME Haining, and LIFECOME New Energy set at 0 yuan.
After the completion of this transaction, the listed company's operating revenue scale will decline, and losses will decrease. Starting from the second half of 2023, the photovoltaic industry as a whole has experienced a mismatch in supply and demand, intensified market competition, and a significant drop in market sales prices of major products in various segments, leading to substantial losses in the target company's photovoltaic film business. Through this transaction, the listed company will divest its severely loss-making photovoltaic film business and focus on its animal health business, further consolidating its main operations
