China Water Industry Group Limited (HK:1129) has released an update.
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China Water Industry Group Limited has announced the termination of the previously planned disposal of Onfar International Limited, as the buyer did not fulfill or waive the payment conditions by the deadline. The agreement, which involved the sale of equity interests for RMB 270 million, will result in the full refund of the RMB 54 million deposit to the purchaser. The board of the company believes this termination will not negatively impact its current business operations.
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