Zhuzhou Kibing Group (SHA:601636) subsidiaries Shaoxing Qibin and Zhejiang Energy-Saving Glass completed its 893.5 million yuan asset sale to Chengfa Group.
The assets include land-use rights, buildings and equipment located in Yuecheng District in Shaoxing, China, according to a Feb. 22 filing with the Shanghai bourse.
The transaction is expected to boost the company's first-quarter net profit by about 442 million yuan.
Zhuzhou Kibing Group shares closed 2% higher Monday.
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