China Qidian Guofeng Holdings' (HKG:1280) subsidiary China Yinrui (HK) Investment Holding agreed to sell the entire equity interest in its inactive subsidiary, Beijing Qidian New Business Technology, to Guangzhou Fanpuxin Technology for 1.00 yuan, a Friday Hong Kong bourse filing said.

The vendor will also discharge the target from the liabilities to repay loans of 346.1 million yuan owed to the vendor by the target.

The target company had net liabilities of about 347.1 million yuan as of Wednesday.