Dongguan Mentech Optical & Magnetic (SHE:002902) transferred a 20.4% stake in its subsidiary, Shenzhen Minpo Energy Ecological Technology, to Shenzhen Optech Oriental and Shenzhen Omin HeYi for 100 yuan, according to a Wednesday filing with the Shenzhen bourse.
The transaction, approved by the board, constitutes a related-party deal as company executives hold shares in Optech Oriental. Post transfer, Minpo Energy will no longer be included in Minpo Optical's consolidated financial statements.
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