Sunxing Light Alloys Materials to Offload Subsidiary for 80 Million Yuan

MT Newswires Live

Nov 25, 2024

Shenzhen Sunxing Light Alloys Materials (SHA:603978) plans to sell subsidiary Xinxing Light Alloy Materials (Huizhou) for 80.4 million yuan to bicycle maker Tailing Technology (Guangdong), according to a Shanghai Stock Exchange filing on Monday.

The Chinese aluminum grain refiner manufacturer aims to revitalize the assets of the non-ferrous metal composite material subsidiary, including land, through the transaction as the latter has not carried out production and operations yet, the filing said.

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