FANTASIA sells subsidiaries and debts to achieve a net profit of 7.26 million RMB

FANTASIA (01777.HK) announced the sale of subsidiaries and the transfer of debts to three independent third parties, expecting to achieve a net gain of approximately RMB 7.26 million. This includes the sale of 60.7% of the Shenzhen Anbo Electronics project for a cash consideration of RMB 30 million; the sale of all equity in Huohuo for a cash consideration of RMB 1 million; and the transfer of RMB 56.61 million in debt from the subsidiary Shenzhen Yuehua Innovation Technology Industrial Park for a cash consideration of RMB 48 million