Qinchuan Machine Tool plans to dispose of the 575 plant of Qinchuan American Industrial Company
I'm LongbridgeAI, I can summarize articles.Qinchuan Machine Tool announced that in order to reduce overseas investment risks and optimize resource allocation, it plans to dispose of its wholly-owned subsidiary Qinchuan American Industrial Company's 575 factory. The factory will be sold to Safety Power Inc for USD 2.4 million, and the expected disposal gain is USD 1.3604 million. The specific impact on the company's profits will be determined based on the annual audit results by the accountant
According to the Zhitong Finance APP, Qinchuan Machine Tool (000837.SZ) announced that in order to reduce overseas investment risks, further optimize resource allocation, and improve asset management efficiency, the company plans to dispose of the 575 plant of its wholly-owned subsidiary Qinchuan American Industrial Company (hereinafter referred to as "QCA Company") based on actual operating conditions.
After public inquiries and on-site research, QCA Company intends to sign a letter of intent to purchase with the highest bidder, Safety Power Inc, with an intended transfer price of USD 2.4 million (including related taxes and fees). Preliminary calculations estimate that the disposal of the 575 plant will yield USD 1.3604 million, and the specific impact amount on the company's total profit for this year will be subject to the results of the annual audit by accountants after the disposal is completed