China Qinfa Group Ltd. (HK:0866) has released an update.
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China Qinfa Group Limited has announced an Extraordinary General Meeting (EGM) to be held on July 23, 2024, in Guangzhou, intending to approve a major transaction involving the sale of a 40% stake in Lead Far Development Limited for RMB 2.95 billion. Shareholders are to consider the sale and purchase agreement, which includes the company’s guarantee of the vendor’s obligations. The board of directors endorses this strategic divestiture, which they believe will serve the company’s interests.
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