Foton Motor (600166.SH) plans to transfer assets related to the Miyun plant to related parties for 1,516 billion yuan

According to the Zhitong Finance App, Foton Motor (600166.SH) announced that the company plans to transfer a total of 378 items of land use rights, plant, machinery, equipment, facilities and other related assets of the Miyun factory to the relevant party Beijing New Energy Vehicle Co., Ltd. through a non-disclosure agreement, at a transaction price of 1,516 billion yuan (tax included). The deal is conducive to focusing on the development of the company's main commercial vehicle business. The assets related to the Miyun factory land use rights, plant, machinery, equipment, and facilities to be transferred this time are currently estimated at about 44 million yuan per year. After the transaction is completed, depreciation and amortization of the company's current and future assets will be reduced; at the same time, the transaction is expected to increase the company's asset transfer income by more than 10% of the company's audited net profit in the most recent fiscal year.