Xianfeng Holdings announced that the company intends to sell its 87.3999% equity interest in Zhuhai Rongsheng Ultra Micro Wire Co. to Dr. Schildbach Finanz-GmbH in cash, at a transaction price of 552,425,300 yuan. After the completion of this transaction, the Company will no longer hold equity interests in Zhuhai Rongsheng. This transaction constitutes a major asset reorganization. After the completion of this transaction, the Company will strategically withdraw from the microfine enameled wire business and will concentrate its resources on strategic and business transformation, focusing on the business layout with the veterinary vaccine business as the main industry.
Zhuhai Rongsheng Ultrafine Wire Co., Ltd. was established on December 18, 2015, with its registered office located in 101, Building 4, No. 681, Airport West Road, Sanzao Town, Jinwan District, Zhuhai City, and its legal representative is Han Taozi.