Yuan Heng Gas Holdings Ltd (HK:0332) has released an update.
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Yuan Heng Gas Holdings Ltd has decided to deconsolidate its subsidiary, Huaheng Energy, due to a legal dispute with Guizhou Gas and a loss of control over financial reporting. This move results in Huaheng Energy being classified as a discontinued operation, leading to an estimated one-off loss of RMB47 million. The company will now account for its interest in Huaheng Energy as a financial asset.
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