Xinxing Ductile Iron Pipes to sell 60% stake in real estate unit

Xinxing Ductile Iron Pipes announced its intention to publicly list and transfer a 60% equity stake in its subsidiary, Shijiazhuang Lianxin Real Estate Development, for no less than 44,251,600 yuan. The transaction aims to reduce risks and concentrate on core operations, removing Lianxin Real Estate from the company’s consolidated financial statements.

Lianxin Real Estate, established in 2014, is involved in the "Flower Language Hometown" real estate project in Luquan District, Shijiazhuang City. As of December 31, 2024, it reported total assets of 1,093,144,900 yuan and net assets of 78,047,000 yuan. An audit on March 31, 2025, valued total assets at 1,085,719,300 yuan and net assets at 72,151,500 yuan.

The equity transfer requires the intended buyer to repay Fukan Energy’s debt of 440,723,700 yuan as a condition for the public listing. The transaction is subject to administrative approval and filing.