Financials Dec 27, 2021 08:35 PM (GMT+8) · EqualOcean
On December 27, China Huarong announced that the company had signed the non listed state-owned property rights trading contract for financial enterprises with the transferee Bank of Ningbo Co., Ltd. and planned to transfer 70% equity of Huarong consumer finance to the other party. The equity transfer was publicly listed and sold through Beijing financial assets exchange, and the final transfer price was RMB 1.091 billion. After the equity transfer, Huarong consumer finance is no longer a subsidiary of China Huarong and is no longer comprehensively recorded in the group's comprehensive financial statements. After obtaining the approval of relevant regulatory authorities, China Huarong and Bank of Ningbo will jointly handle the registration of equity change and complete the necessary operation processes such as industrial and commercial change. After the relevant processes are completed, it means that bank of Ningbo has won the consumer finance license and delisted in the form of holding.

This text is a result of machine translation.