Red Avenue sells stake in Suzhou Jucui for $3.6m

Red Avenue New Materials Group (SSE:603650) announced the sale of its 12% equity stake in Suzhou Jucui Materials Technology to Suzhou Aikolong Materials, effective June 12, 2025. The transaction, valued at CNY 3.6 million, allows Red Avenue to optimize its asset structure, improve asset liquidity and capital efficiency. Post-transaction, Red Avenue will no longer hold any shares in Suzhou Jucui. Suzhou Jucui had total assets of CNY 87.93 million and net assets of CNY 54.93 million at the end of March 2025, and reported a net profit of CNY 8.78 million for the first three months of 2025. The deal does not constitute a related-party transaction or a major asset restructuring. The sale was approved internally without requiring a board or shareholder vote.