Qidian International Sells Equity Interest Amid Financial Struggles

Qidian International Co., Ltd. (HK:1280) has released an update.

Qidian International Co., Ltd. has announced a transaction involving the sale of its entire equity interest in a target company for RMB1.00. This deal, classified as a discloseable transaction under Hong Kong’s listing rules, involves waiving a substantial inter-company loan liability of RMB346.06 million. The agreement, formed after arm’s length negotiations, reflects the financial challenges faced by the target company, which reported net liabilities of approximately RMB347.11 million as of late November 2024.

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