China Qidian Guofeng Holdings' (HKG:1280) subsidiary China Yinrui (HK) Investment Holding agreed to sell the entire equity interest in its inactive subsidiary, Beijing Qidian New Business Technology, to Guangzhou Fanpuxin Technology for 1.00 yuan, a Friday Hong Kong bourse filing said.
The vendor will also discharge the target from the liabilities to repay loans of 346.1 million yuan owed to the vendor by the target.
The target company had net liabilities of about 347.1 million yuan as of Wednesday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.