Tongfang sells Cuineng stake, aims to optimize asset structure

Tsinghua Tongfang Co. Ltd. is transferring its 100% equity in Shanghai Cuineng Optoelectronic Technology Co. Ltd., held by its wholly-owned subsidiary Tongfang Science Park Co. Ltd., via public listing on a property rights exchange. The transfer aims to optimize the company's industrial structure and activate assets.

The base price for the public listing is RMB 17.20 million, derived from an appraised value as of May 31, 2025. Shanghai Cuineng's audited net asset book value was RMB -15.65 million, while the appraised value reached RMB 17.20 million, representing an appraisal increase of RMB 32.85 million and an increase rate of 209.96%.

The transaction has been approved by the company's Seventh Investment Decision Committee of 2025 and does not require board or shareholder approval. However, the final transaction amount and completion date are uncertain, and potential related-party transactions will be reviewed as per company regulations.