GEMDALE PPT Subsidiary to Divest Full Stake in Shenzhen Weilu Technology

Stock News
Mar 17

GEMDALE PPT (00535) announced that on March 17, 2026, the seller, Shenzhen Weixin Software Technology Co., Ltd., an indirect wholly-owned subsidiary of the company, entered into an agreement with the buyer, Yajingyuan Holdings (Shenzhen) Co., Ltd., for the sale. According to the agreement, the seller has agreed to sell and the buyer has agreed to acquire 100% of the equity in the target company, Shenzhen Weilu Technology Co., Ltd. The board believes that the divestment will help the group consolidate resources, terminate loss-making operations, and thereby improve financial performance. Furthermore, the cash proceeds from the sale and the repayment of shareholder loans can be used for the development of the group's other core businesses, enhancing its financial flexibility.

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