Shenyang Public Utility Development Co., Ltd. (00747) plans to sell 100% of Shenzhen Jusheng Chuangchuang Investment Development's shares for 2 million yuan

According to Zhitong Finance App, Shenyang Public Development Co., Ltd. (00747) issued an announcement. On September 18, 2026, the company (as the seller) signed a share transfer agreement with the buyer Shenzhen Castle Century Trading Co., Ltd., and the company plans to sell 100% of the shares of the target company Shenzhen Jusheng Investment and Development Co., Ltd. to the buyer at a cost of RMB 2 million.

As of August 31, 2026, the adjusted total unaudited consolidated assets value and total consolidated liabilities of the target group (after taking into account the financial impact of the sale between China and Asia) were approximately RMB81.713 million and RMB142.5 million respectively. Given the relatively high level of debt, the company believes that the sale will enable the Group to drastically reduce its financial risk burden on the project and ease the financial pressure caused by existing liabilities and further capital requirements for the Shennongjia Hotel project.

The Board of Directors has also considered the Group's overall business development and capital allocation needs. The Group currently operates other business segments and is developing (including) its edge computing infrastructure business, which requires financial and management resources to expand the business and execute existing and potential contracts. By reducing the Group's liabilities and future capital requirements for the Shennongjia Hotel project, the sale will enhance the Group's flexibility in allocating its financial resources and enable the Group to focus its capital and management attention on its current business and other business opportunities that the Board of Directors believes may bring more immediate operational and commercial benefits to the Group.