Oriental Yuhong sells assets to optimize capital, operations

Beijing Oriental Yuhong Waterproof Technology Co., Ltd. announced the sale of commercial and office properties in Beijing's Miyun District and Hangzhou's Shangcheng District. The company's board approved the asset disposal to revitalize assets, improve cash flow, and optimize its financial structure.

The transactions are expected to result in a disposal loss of yuan 25,808,463.04, exceeding 10% of the company's net profit from the most recent audited fiscal year.

The sale involves properties acquired between 2021 and 2025, with a total book value of yuan 52,392,844.00 and a net book value of yuan 44,298,890.81 after provisions for asset impairment. The assets are being sold to various entities, including Beijing Xilu Tasting Xuan Commercial and Trade Co., Zhaojia Commercial Management (Beijing) Co., and individual Huang Tao.

The asset sale aligns with the company's strategy to accelerate cash recovery and dispose of non-productive assets, especially given current real estate market trends. The proceeds from these sales will be utilized for the company's daily operations.