Gelonghui, March 27丨Yatai Group (600881.SH) announced that it intends to sell 29.81% of its shares in Northeast Securities Co., Ltd. (“Northeast Securities”), of which it plans to sell 20.81% of the shares held in Northeast Securities to Changchun City Development Investment Holdings (Group) Co., Ltd. (“Changfa Group”), and plans to sell 9% of its shares in Northeast Securities to Changchun Financial Holding Group Co., Ltd. (“Changchun Financial Holdings”). Changfa Group, one of the counterparties in this transaction, is a wholly state-owned company that is the controlling shareholder and actual controller of the company, the State-owned Assets Supervision and Administration Committee of the Changchun Municipal People's Government, which performs funder duties, and Changfa Group directly holds 3.38% of the company's shares.
This asset sale will help the company optimize its balance and liability structure, supplement liquidity, reduce financial expenses, and enhance profitability; help the company transform and upgrade its industry, focus on its main business, further improve and strengthen, and enhance its core competitiveness. This sale of assets will not adversely affect the company's main business and ability to continue operating.