Grand Baoxin Auto Group Provides Further Details on Disposal of Entire Interest in Target Company
Grand Baoxin Auto Group Limited has provided further details regarding its previously announced disposal of its entire interest in a target company. The company disclosed that the valuation of the target was based on current assets, including bank deposits and account receivables, with the appraised value of bank deposits determined by verifying bank statements. The board reviewed the valuation methodology, key assumptions, and the qualifications of the valuer, and concluded that the valuation used as the basis for the transaction consideration is fair and reasonable. This information was released by Grand Baoxin Auto Group Limited.
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