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Putian Communication Group to Sell 51% Stake in Subsidiary for 3 Million Yuan
Puhua Communications (01720.HK) sold its subsidiary 51% of smart building products for 3 million yuan.
PUTIAN COMM (01720.HK) announced the sale of a 51% stake in its wholly owned subsidiary, PUTIAN CABLE GROUP COMMUNICATIONS, to an independent third party for a cash consideration of 3 million RMB. The estimated sale will recognize a revenue of approximately 0.64 million RMB.
PUTIAN COMM (01720.HK) intends to sell 51% equity in its subsidiary PUTIAN CABLE GROUP Communications Technology for 3.0048 million yuan.
On March 21, Gelonghui announced that PUTIAN COMM (01720.HK) will, on July 18, 2024, through its wholly-owned subsidiary, PUTIAN Cable Group Co., Ltd, enter into a sales agreement as the seller with the buyer Ye Fan to sell 51% of the equity of the target company, PUTIAN Cable Group Communications Technology Co., Ltd, for a price of 3.0048 million yuan. The target company is primarily engaged in the manufacturing and sale of intelligent building products. The target company was established in China as a limited company and is mainly involved in the manufacturing and sale of intelligent building products. The target company has been operating at a low level, generating very little revenue and Net income or operating at a loss, and is leveraged.
PUTIAN COMM (01720.HK) plans to hold a Board of Directors meeting on March 31 to approve the annual performance.
On March 19, Gelonghui reported that PUTIAN COMM (01720.HK) announced that the Board of Directors will hold a meeting on March 31, 2025 (Monday) to consider and approve the annual performance of the company and its subsidiaries for the year ending December 31, 2024, and its publication, as well as to consider the proposal for the distribution of a final dividend (if any).
Express News | The Ministry of Industry and Information Technology: Strengthen the overall layout and capacity monitoring and early warning of the Industry Chain, and appropriately expand the pilot scope of opening up value-added telecommunication services.
PUTIAN COMM: Interim Report 2024
