Zhejiang Futai To Sell 70% Equity

Zhejiang Furun (600070) announced on the evening of April 26 that the company intends to sell its 100% equity of taiyizhishang through public listing. The final trading price and trading partner of this transaction shall be subject to the result of public listing. The operating income of assets to be sold in this transaction accounts for more than 50% of the corresponding audited indicators of the company in the latest accounting year. According to relevant regulations, this transaction constitutes a major asset restructuring. Through this transaction, the company will divest the loss making assets business, reduce the operating burden and improve its own operating conditions.