Shaanxi Aerospace Power Hi-Tech (SHA:600343) will sell its 51% controlling stake in subsidiary Jiangsu Aerospace Power Electromechanical on the Beijing Equity Exchange, according to a Tuesday disclosure to the Shanghai Stock Exchange.
The sale will help the company divest its non-performing businesses and focus on its core operations.
Jiangsu Aerospace Power Electromechanical manufactures and sells automatic and direct current-powered motors.
Shares fell 3% during afternoon trading on Tuesday.
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