Lifan Technology's Unit Disposes of Old Tools for Nearly 17 Million Yuan; Shares Drop 8%

MT Newswires Live

Jan 02, 2025

Lifan Technology's (SHA:601777) unit, Chongqing Ruilan Automobile Manufacturing, plans to sell old vehicle model mold inspection tools for 16.6 million yuan, according to a Shanghai Stock Exchange filing on Wednesday.

Chongqing Shengjia Recycling Resources, a company recycling renewable resources, metals and rubber products, will purchase the assets.

The automobile company expects to earn 5.5 million yuan in net profit from the transaction.

The company's shares dropped less than 8% in recent trade.

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