SMM News: Wan Bond announced that the company intends to sell 100% of Dongliang Aluminum and 51% of Huzhou plus equity to Huzhou Wan Bond by way of cash transaction, and the assets to be sold are expected to be valued at 1.316 billion yuan. The transaction is expected to constitute a major asset restructuring. Huzhou Wan Bond Investment is an enterprise controlled by the actual controller of the company.
The company announced on the same day that Wan Bond intends to stop the business of Shanghai Xingdong Aluminum, which is engaged in a large scale of trading business, low gross profit margin and low return on capital. After the completion of the above transaction, the listed company spun off the aluminum processing business of the company, making the company focus on the pharmaceutical industry and further highlighting the main business of the listed company.
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