Wai Yuen Tong to Sell Shenzhen Property Unit for Nearly 100 Million Yuan

MT Newswires Live

07/17

Wai Yuen Tong Medicine (HKG:0897) agreed to sell a unit that owns a property in Shenzhen's Pingshan district, according to a Thursday joint Hong Kong bourse filing with parent Wang On (HKG:1222).

The consideration for Guanzun (Shenzhen) Trade Development is 99.8 million yuan. The company owns a factory, two dormitory buildings, and a land parcel.

Wang On and Wai Yuen Tong expect to record a disposal gain of about HK$46.5 million, subject to audit, and plan to use the proceeds for general working capital and operations.

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