Century Sunshine Subsidiary Asset Auction

Century Sunshine Group Holdings Limited (HK:0509) has released an update.

Century Sunshine Group Holdings Limited has announced that the Donghai Court will auction the land and mining rights of its subsidiary, Longteng Company, on 13th August 2024 to repay its debts. With a reserve price of RMB 155 million, the sale is part of the company’s efforts to improve liquidity and focus on its core business, as the serpentine mining is non-essential. The company’s operations continue normally and further updates on the auction will be provided.

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