Nuode Investment sells subsidiary stake for CNY 70m

Nuode Investment has announced the sale of a 70% equity stake in its wholly-owned subsidiary, Jiangsu Lianxin Electronics Industry, to Jiangsu Jida New Material Technology for CNY 70 million. The transaction, approved by Nuode Investment's board, is expected to generate profits exceeding 10% of the company's most recent audited net profit. Following the completion of the deal, Jiangsu Lianxin will no longer be consolidated into Nuode Investment's financial statements. Jiangsu Lianxin has an outstanding litigation for CNY 646,427.48. The consideration will be paid in installments, with 10% upfront as deposit and the remainder by December 25, 2025. The company's past year revenue was CNY 175,927,844.65 with a net profit of CNY -32,429,871.11, whilst the subisidary's financials for the past year, were CNY 196,489,263.52 in assets. The company considers the buyer to have the sufficient funding, and states the board change won't affect the operations of the business.