Huading Nylon completes subsidiary equity sale for 700 million yuan

Yiwu Huading Nylon (SSE:601113) announced the completion of the sale of its subsidiary, Shenzhen Tongtuo Technology Co., Ltd. (referred to as "Tongtuo Technology"), to Huakai Yibai Technology Co., Ltd. The sale, approved at shareholder meetings in May and June 2024, involved 100% of Tongtuo Technology's equity. The transaction was valued at RMB 700 million. The company has now received the final payment. Huading Nylon no longer holds equity in Tongtuo Technology, and Tongtuo Technology will no longer be included in the company's consolidated financial statements, from July 2024. Investors are advised to pay attention to investment risks.