Feiyang International Sells Stake in Major Transaction

Feiyang International Holdings Group Limited (HK:1901) has released an update.

Feiyang International Holdings Group Limited has entered into a major transaction to sell its 60% stake in a subsidiary to Ningbo Zhenhang for RMB22,680,000. This transaction, classified as a connected transaction under Hong Kong’s Listing Rules, involves Ningbo Zhenhang, a substantial shareholder of the subsidiary. The deal, which has been approved by Feiyang’s board, is deemed fair and beneficial for the company and its shareholders.

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