GRAND BAOXIN (01293) Plans to Sell Ningbo Tianhua Lujie Automobile Sales Service Co., Ltd. for RMB 33.4 Million

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Sep 30

GRAND BAOXIN (01293) announced that on September 30, 2025, the company's indirect wholly-owned subsidiary, Suzhou Baoxin Automobile Sales Service Co., Ltd., intends to sell all issued share capital of Ningbo Tianhua Lujie Automobile Sales Service Co., Ltd. to Xinjiang Feiyade New Energy Technology Co., Ltd. for a consideration of approximately RMB 33.4 million. To further optimize the group's production and operational layout and coordinate resource utilization, the group believes that the disposal provides an opportunity for the company to improve the group's financial position and streamline its operations.

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