Tongfang sells industrial tech arm, renews financial services with CNNC Finance

Tsinghua Tongfang Co. Ltd. (Tongfang) is divesting 80% equity in its wholly-owned subsidiary, Tongfang Industrial Information Technology Co. Ltd. (Industrial Information), to optimize its industrial structure and enhance asset operational efficiency. The transfer, executed via a public listing, will use a base price of 13,617.28 million yuan, referencing the appraised value as of December 31, 2024. This transaction is expected to generate disposal gains, positively impacting the company's performance.

Concurrently, Tongfang is renewing its financial services agreement (2026-2028) with China National Nuclear Corporation Finance Co. Ltd. (CNNC Finance). The three-year agreement, effective from January 1, 2026, to December 31, 2028, covers deposit, loan, settlement, and bill acceptance services. The maximum daily deposit balance is set at 80 billion yuan, and the maximum daily loan balance at 100 billion yuan. This renewal aims to broaden financing channels and leverage synergistic benefits within the CNNC Group, ensuring secure and efficient financial management.