Kaisa Jiayun subsidiary equity transfer faces payment delay

Kaisa Jiayun Technology (SZSE:300242) announced a delay in receiving the full payment for the transfer of its controlling stake in Chongqing Jiamai Yunsheng Cultural Media to Zhejiang Zhaoying Industrial. While the initial transfer and operational handover were completed in March 2024, and an initial partial payment of 200,000 RMB has been received recently, 1.28 million RMB remains outstanding. Kaisa Jiayun stated it intends to continue negotiating with Zhejiang Zhaoying and relevant parties to secure the outstanding balance.