Hangjin Technology subsidiary to auction controlling stake in Shenzhen firm

Stock News

07/23

Hangjin Technology Co.,Ltd. (000818.SZ) has announced that its wholly-owned subsidiary, Wicker Electronics Module (Shenzhen) Co., Ltd., plans to transfer its 51% stake in Shenzhen Zhongdian Huaxing Electronic Technology Co., Ltd. through a public listing at the Wuhan Optics Valley United Property Rights Exchange.

Once the transaction is completed, Wicker Electronics will no longer hold any equity in Zhongdian Huaxing, and the company will be deconsolidated from Hangjin Technology's financial statements.

The decision to divest this stake is driven by the company's strategy to focus on its core business operations, aiming to better concentrate on primary activities and adjust its investment structure.

This transaction is expected to enhance the company's profitability and core competitiveness, ultimately benefiting the interests of Hangjin Technology and all its shareholders.

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