Kangxin New Materials transfers 60% equity of its subsidiary, focusing on core business after the transaction

On April 25, 2025, Kangxin New Materials Co., Ltd. agreed that its wholly-owned subsidiary Hubei Kangxin would publicly transfer 60% of Tianxin Company's equity through the Wuxi Property Rights Exchange Center, with an initial valuation of 62.5756 million yuan, later adjusted to 62.7014 million yuan. The listing began on June 13, and by July 24, the initial listing period expired without attracting any interested buyers. On July 30, the company lowered the transfer price to 60.5925 million yuan, and on August 1, it was relisted, attracting the buyer Hubei Ruicheng Cultural Tourism Co., Ltd. Recently, both parties signed the contract, and the buyer has completed the payment. This transaction is beneficial for the company to optimize resource allocation and focus on core business. After completion, Tianxin Company will no longer be included in the consolidated financial statements, and the price is fair, with no harm to shareholder interests. The company will cooperate in handling the property rights transfer and remind investors to pay attention to risks