Jiu Rong Holdings sells EV charging unit for 6.87m yuan

Jiu Rong Holdings Limited announced a discloseable transaction regarding the disposal of its target equity interests and 13 electric vehicle charging stations in Nanjing for a cash consideration of RMB6,870,000. The agreement, signed on September 10, 2025, with Nanjing GWDR Power Technology Co., Ltd., also includes the repayment of a loan of RMB1,060,000 plus RMB18,000 in accrued interest owed by the target company to the vendor.

The consideration was determined with reference to an asset-based valuation of RMB8,078,000 for the target company as of June 30, 2025. Following an initial listing price of RMB8,079,000 on the Hangzhou Equity Exchange, the price was adjusted downwards by 15% to RMB6,870,000. The disposal is expected to result in an unaudited loss of approximately RMB1,505,000 for Jiu Rong Holdings.

The company plans to use the net sale proceeds for general working capital, including repaying short-term borrowings to reduce interest expenses and enhance its capital structure. The board believes this disposal is a prudent move to realign its portfolio, as the target subjects' current conditions would necessitate additional capital investment, placing an undue financial burden on the group.