Jiu Rong Holdings mulls disposal of bus charging stations

Jiu Rong Holdings Limited (HKEX:2358) announced it is exploring the potential disposal of its new energy bus charging stations located in Hangzhou, PRC. The move aligns with the company's strategy to optimize working capital and transition to an asset-light model. An indirect subsidiary of Jiu Rong has entered into a letter of intent with a PRC-based new energy technology company ("Buyer"). The Buyer is to make an advance payment of RMB90,000,000, with 3.6% annual interest, to Jiu Rong. The carrying value of the charging stations is approximately RMB198 million as of April 30, 2025. Should the disposal proceed, the Buyer will enter into an agreement ensuring Jiu Rong retains exclusive leaseback operation rights for at least three years. The company noted that the potential disposal might constitute a very substantial disposal under the Listing Rules, and shareholders are advised to exercise caution.