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KTK Group Co., Ltd. (603680.SH) plans to sell 100% of Mingxin Company's equity for 0.4 billion yuan.
On December 29, Gelonghui reported that KTK Group Co., Ltd. (603680.SH) announced that the company's ("Party B") fifth Board of Directors' seventh meeting reviewed and approved the proposal regarding the sale of 100% equity of its subsidiary, agreeing to sell 100% equity of Jiangsu Mingxin Traffic Equipment Co., Ltd. (hereinafter referred to as "Mingxin" or "target company") to Changzhou Heyuan Rail Technology Co., Ltd. (hereinafter referred to as "Changzhou Heyuan" or "Party A"), with the transaction price being RMB 0.4 billion. This transaction involves the company planning to sell 100% equity of the target company based on the overall operational development needs of the company, which complies with public.
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