Greatwall Tech sells stake in subsidiary for CNY 64.8m

China Greatwall Technology Group (SZSE:000066) announced that its subsidiary Changsha Xiangji Haitun Technology Co., Ltd. has completed the sale of its 40% equity stake in Hunan Great Wall Galaxy Technology Co., Ltd. The stake was sold to Hunan Expressway Investment Fund Partnership (Limited Partnership) for CNY 64.8 million. The company expects this transaction to generate an investment income of approximately CNY 429 million, before related taxes and fees. With the sale completed, Changsha Xiangji Haitun Technology will no longer hold any equity in Great Wall Galaxy.