On December 30, Gelonghui reported that MAIKE TUBE (01553.HK) announced that on December 30, 2024, Jinan MAIKE (the company's indirect wholly-owned subsidiary) (as the seller) entered into an Equity Transfer agreement with Meide (as the buyer), under which Jinan MAIKE conditionally agrees to sell, and Meide conditionally agrees to acquire the sold shares, equivalent to all equity of MAIKE Asia Vets, for a total price of 45 million yuan.
MAIKE Asia Vets is a limited liability company established under the laws of China on December 25, 2020, mainly engaged in the design and supply business of assembled piping systems.
The sale is carried out according to the Group's overall Global Strategy. The Board of Directors believes that the sale will optimize the Group's resource allocation, enhance the Group's cash flow, and help improve the Group's working capital through the sale of non-core Assets. The sale will not have a significant impact on the Group's core Business and Operation.