Luzhou Xinglu Water (Group) Co., Ltd. Class H (HK:2281) has released an update.
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Luzhou Xinglu Water (Group) Co., Ltd. Class H has supplemented information on a previous announcement regarding the transfer of equity interest in a Target Company. An appraisal by Yinxin Appraisal Co., Ltd. valued the shareholders’ equity of the Target Company at RMB9.782 million, a minor increase from the book value, using an asset-based method due to the entity’s comprehensive financial data and unpredictable future income. The income method was deemed unsuitable for valuation because of the company’s fluctuating historical revenues and poor profitability.
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