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Sunfonda Group Adjusts Major Transaction Terms Amid Land Planning Changes

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Sunfonda Group Adjusts Major Transaction Terms Amid Land Planning Changes

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An announcement from Sunfonda Group Holdings Ltd. ( (HK:1771) ) is now available.

Sunfonda Group Holdings Ltd. announced a supplemental agreement related to a major transaction involving the disposal of a target company. Due to changes in land planning by the PRC government, the developable area of the target property has been reduced, prompting an amendment to the consideration and payment arrangement of the equity transfer. The initial transfer price has been adjusted to RMB71.1372 million, with potential further adjustments if compensation is received from the government. The agreement outlines a collaborative effort between the vendors and purchaser to secure official confirmation on compensation within six months post-completion.

More about Sunfonda Group Holdings Ltd.

Sunfonda Group Holdings Ltd. is a company incorporated in the Cayman Islands, primarily engaged in the automotive industry. The company focuses on the sale and service of automobiles, catering to a diverse market with a strong presence in the Chinese automotive sector.

YTD Price Performance: 7.69%

Average Trading Volume: 34,416

Technical Sentiment Signal: Buy

Current Market Cap: HK$168M

Learn more about 1771 stock on TipRanks’ Stock Analysis page.

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