ST Pioneer (300163.SZ) announced that its wholly-owned subsidiary Jiaxing Fengtai New Materials Co., Ltd. (referred to as "...")
According to the Zhitong Finance APP, ST Pioneer (300163.SZ) announced that its wholly-owned subsidiary Jiaxing Fengtai New Materials Co., Ltd. (referred to as "Jiaxing Fengtai") signed an "Assets Sale Agreement" on December 18, 2024, with Jiaxing Dream New Materials Co., Ltd. (referred to as "Dream New Materials"), to transfer the land and buildings located at the southeast corner of the intersection of Outer Ring West Road and Jingyi Road in Jiaxing Port District, Zhejiang Province. After negotiation between the two parties, the final transaction price was determined to be 34.6058 million yuan.
It is reported that Jiaxing Fengtai mainly engages in granulation business and the production of coated fabrics. There are currently three pieces of land; aside from the land planned for sale this time, there are two additional pieces of land and corresponding factories available for daily production. The sale of Real Estate is considered to adjust production layout, reduce operating costs, improve Assets utilization efficiency, optimize resource allocation, and increase the company's capital reserves.