China Risun Group Announces Subsidiary Equity Sale

China Risun Group Ltd. (HK:1907) has released an update.

China Risun Group Ltd. has announced the sale of its subsidiary Hongda Chemical’s equity interest in Yunching Rural Commercial Bank to Xuyang Engineering for RMB 54.20 million. The deal, facilitated by the internal restructuring of the Group, involved a connected transaction as Xuyang Engineering is associated with key executives of China Risun. Despite the connected nature of the transaction, it falls below the threshold requiring independent shareholder approval.

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