TYSJ's subsidiary plans to sell machinery and equipment related to the automotive brake pads and components project production line, as well as real estate
I'm LongbridgeAI, I can summarize articles.TYSJ announced plans to sell the machinery and equipment related to the automotive brake pads and components project, as well as real estate held by its wholly-owned subsidiary Tianjin TYSJ. The sale includes machinery and equipment worth 17.5 million yuan and the state-owned land use rights valued at 33.9 million yuan. This business has not generated economic benefits in recent years, and Tianjin TYSJ is in a loss-making state. Subsequent operations will be transferred to the Beijing base, and the sale will not affect the company's overall revenue
According to the Zhitong Finance APP, Tianyi New Materials (688033.SH) announced that the company plans to sell the machinery and equipment related to the automotive brake pads and accessories project production line held by its wholly-owned subsidiary Tianyi Shangjia (Tianjin) New Materials Co., Ltd. (referred to as "Tianjin Tianyi"). The sale involves some of the company's earlier projects, including "an annual production of 300,000 pieces of rail transit vehicle brake pads/shoes, 300,000 sets of automotive brake pads, and 4.125 million sets of automotive accessories."
Specifically, the company's wholly-owned subsidiary Tianjin Tianyi intends to sell the machinery and equipment related to the automotive brake pads and accessories project production line to an unrelated party, Zhuhai Grelly Friction Materials Co., Ltd., for a sale price of 17.5 million yuan; it also plans to transfer the state-owned construction land use rights and the ground buildings located at No. 5 Huaning Road, Wuqing District, Tianjin, to an unrelated party, Chongqing Hongmai Tianxia Industrial and Trade Development Group Co., Ltd., for a transfer price of 33.9 million yuan.
The announcement stated that the production line being sold by Tianjin Tianyi includes the land and property of the Tianjin base and the machinery and equipment related to the automotive brake pads and supporting parts production line. In recent years, this business has not generated economic benefits, and Tianjin Tianyi has been in a continuous loss state. Its business revenue has been relatively small over the past three years, accounting for a low proportion of the company's overall business revenue. Subsequently, its rail transit brake pads/shoes business will be transferred to the Beijing base, and the related production line machinery and equipment will also be transferred to Tianyi New Materials and relevant entities within the system. The sale of these partial assets will not affect the company's overall revenue situation and will not have a significant impact on the company's business