Shenzhen Bauing Construction Holding Group (002047.SZ) announced that the listed company and its wholly-owned subsidiary, Bauing Huike, plan to sell to the controlling shareholder...
Zhitong Finance APP reported that Shenzhen Bauing Construction Holding Group (002047.SZ) announced that the listed company and its wholly-owned subsidiary, Bauing Huike, intend to sell their total holding of 100% equity in Bauing Construction to the controlling shareholder, Dahengqin Group. This trade will be conducted through a private agreement transfer, with Dahengqin Group paying through its debt claims against the listed company and some cash as consideration. The transaction price is 0.788 billion yuan.
Before the completion of this transaction, the listed company mainly engaged in the construction and decoration engineering business through its subsidiary Bauing Construction and Bauing Jianke. Through this transaction, the listed company will divest the main entity of the construction and decoration engineering business, which has suffered serious losses in previous years.
After the completion of this transaction, the listed company will strategically retract from the traditional construction and decoration engineering field, which has seen sluggish growth and continuous losses, while ensuring that the subsidiary Bauing Jianke relies on quality engineering projects in the South China Greater Bay Area Concept to achieve high-quality development. The focus will shift to strategic and business transformation, concentrating resources around high value-added directions in the entity economy such as new energy funds and new building decoration materials, optimizing resource allocation, expanding new business fields, and developing new profit growth points, effectively enhancing the company's sustainable operation ability and core competitiveness, aiming for transformation, upgrading, and long-term healthy development of the company's business.