Minieye Technology (HKG:2431) agreed to sell a 51% stake in its wholly owned unit, Hunan Youxiang, to Shanghai Pengzhuo Information Technology for 183,600 yuan, according to a June 13 Hong Kong bourse filing.

Following the disposal, Minieye will retain a 49% interest in Hunan Youxiang, which will cease to be its subsidiary.

The consideration will be paid in full within seven days, the filing said. The proposed disposal is expected to generate a gain of about 1.15 million yuan, and proceeds will be used for general working capital.