Wenye Group Holdings Limited Streamlines Operations Through Subsidiary Winding-Up

An announcement from Wenye Group Holdings Limited ( (HK:1802) ) is now available.

Wenye Group Holdings Limited has announced the voluntary winding-up of its subsidiary, Sosang (HK) Holdings Limited, as part of a strategic move to address financial uncertainties and reduce liabilities. The sale of Sosang’s interests in its subsidiaries for HK$1,300,000 is expected to deconsolidate significant liabilities from the group’s balance sheet, thus improving its financial position without adversely affecting its overall operations, as another subsidiary retains the necessary licenses to continue decoration work in China.

More about Wenye Group Holdings Limited

Wenye Group Holdings Limited operates in the construction and decoration industry, focusing on providing construction and decoration services primarily in the Chinese market. The company is involved in various construction projects through its subsidiaries, including Shenzhen Wenye Construction Group Limited and Wenye Construction Decoration (Shenzhen) Limited.

Average Trading Volume: 2,580,406

Technical Sentiment Signal: Sell

Current Market Cap: HK$52.39M

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