Yunnan Water Investment's (HKG:6839) non-wholly-owned subsidiary Dali Water Industry Investment sold the Dali City Fourth Water Plant Expansion and Pipeline Network Project to Dali Innovation Construction and Development for about 90 million yuan.

The Dali City Fourth Water Plant Expansion and Pipeline Network Project is composed of a water plant and support facilities, including booster pump stations, elevated reservoirs, and clear water tanks, among others.

Dali Innovation Construction and Development is engaged in construction engineering, water conservancy construction, investment and management of urban and rural infrastructure, and land consolidation and development, the filing said.

Net proceeds, set at 83.2 million yuan, will be used to repay debt and fund working capital, the filing said.

Shares plunged 10% during Tuesday's afternoon trading.