Changshan Beiming to sell idle textile equipment for 36.3m yuan

Shijiazhuang Changshan Beiming Technology Co. Ltd. will dispose of 1,124 sets of idle and scrapped textile equipment through a public listing on a state-owned property rights exchange. The decision, approved by the board on November 20, 2025, follows a previous asset swap with its controlling shareholder, Changshan Textile Group, which divested textile operations, rendering the remaining equipment obsolete.

According to the asset appraisal report dated November 17, 2025, the equipment, primarily purchased between 2008 and 2013, has an appraised value of 36,297,598 yuan (excluding tax) as of the valuation base date of August 31, 2025. This value represents a significant reduction from the book value, with an impairment rate of 67.75%. The company intends to set the initial public listing price at no less than the appraised value, with a potential 10% reduction for subsequent listings if the equipment remains unsold.

The appraisal, conducted by China United Asset Appraisal Group Co. Ltd., highlights that the equipment's age, functional obsolescence, and declining new equipment prices contributed to the substantial decrease in value. This disposal is expected to enhance asset quality and increase operating funds, aligning with the company's long-term development strategy.