Zhengye Tech completes key asset sale procedures

Guangdong Zhengye Technology (SZSE:300410) announced that it has completed all relevant change and transfer procedures for the sale of certain assets located in the northern part of Songshan Lake Industrial City, Dongguan. The asset sale, approved earlier this year, involved transferring the land use rights and construction in progress to Sheng Hong Technology Development (Guangdong) Co., Ltd. for a total consideration of RMB 178 million. Following the transfer of title in August 2024, Sheng Hong Technology has now obtained necessary construction planning and building permits, culminating in the construction work permit issued on February 10, 2025. With these procedures complete, Zhengye Tech will proceed to collect the remaining 40% of the transfer price after transferring all the assets. The company assured investors it will continue to disclose additional details on time.