Cinda Intl Hldg (00111) announced that the company plans to sell, through public listing on the Shanghai United Property Rights Exchange, (i) 100% equity of Cinda Intl (Shanghai) Investment Consulting Co., Ltd. (a wholly-owned subsidiary of the company), and (ii) 100% equity of Cinda Leading (Shenzhen) Equity Investment Fund Management Co., Ltd. (a wholly-owned subsidiary of the company). After the potential sale is completed, the company will no longer hold any equity in Cinda Intl Shanghai and Cinda Leading, and these companies will no longer be subsidiaries of the company.
Cinda Intl Shanghai mainly engages in initiating and establishing various types of partnership enterprises and managing investments in China. Cinda Leading primarily engages in initiating and establishing various types of equity investment enterprises and managing investments in China.
To optimize resources and streamline the group structure, the company plans to sell the equity of Cinda Intl Shanghai and Cinda Leading. The potential sale will help the group reconfigure resources towards other existing or market-oriented businesses. The board of directors believes that the potential sale (if realized) will provide a solid foundation for the group to achieve overall stable operations and promote sustainable development.