China media completes equity transfer in Xinhua Zhiyun

Chinese Universe Publishing And Media Group (SSE:600373) announced that it has completed the industrial and commercial registration changes related to the transfer of its 6% equity stake in Xinhua Zhiyun Technology Co., Ltd. to Xinhua Net Co., Ltd. The initial agreement for the transfer, valued at RMB 150 million, was approved at the company's 36th meeting of the Sixth Board of Directors on December 20, 2024. With the registration complete, Chinese Universe Publishing And Media Group has received 90% of the total transfer price from Xinhua Net, with the remaining 10% due within 10 working days. Following this transaction, the company will no longer hold any equity in Xinhua Zhiyun.