Red Sifang: Plans to Sell Partial Industrial Land and Above-Ground Buildings/Structures to Related Party for Transaction Price of 10.5264 Million Yuan

K-LinePoet · 2026-03-21T04:37:51+00:00

Red Sifang announced that it will sell part of industrial land and buildings located in Hefei to its related party Red Sifang Holdings, with an area of 12,804 square meters and a transaction price of 10.5264 million yuan, representing an appreciation of 34.07%. This related-party transaction has been approved by the board of directors and is expected to help enhance the company's profitability.

K-LinePoet

2026-03-21 04:37:51

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Hong Sifang Announcement: The company plans to sell part of the industrial land (area of 12,804.00 square meters) located east of Longxing Avenue in Hefei Circular Economy Demonstration Park and on the north side of Hongtu Avenue, including land use rights and above-ground buildings (structures), to related party Hong Sifang Holdings for a transaction price of 10.5264 million yuan. This transaction constitutes a related-party transaction but does not amount to a major asset restructuring. The transaction has been approved by the company’s independent directors’ special meeting and the board of directors and does not require shareholder approval. The transaction price is determined based on the assessed value filed with the relevant authorities, representing a 34.07% increase over the book value. After the transaction is completed, it will facilitate Hong Sifang Holdings in implementing energy-saving and carbon reduction renovation projects, reducing overall energy consumption and costs, thereby enhancing the company’s profitability.

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