Joyvio Food sells subsidiary amid regulatory and financial restructuring

Joyvio Agriculture Development (SZSE:300268) is selling its subsidiary, Joyvio Zhencheng Technology, to address regulatory requirements and restructure its financials, according to a series of recent announcements. Valued at negative CNY 54.7 million, the sale to Joyvio Pinxian, a fully-owned subsidiary of Joyvio Group, involves transferring 100% equity. The transaction is structured to comply with regulations, and following the sale, Joyvio Zhencheng will be managed under entrusted operations, with detailed plans for business, asset, and operational restructuring.