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Far East Smarter Energy's Unit to Sell Assets for 110 Million Yuan

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Far East Smarter Energy (SHA:600869) unit Jiangsu Far East Battery plans to dispose of certain assets for a total of 109.9 million yuan, according to a Shanghai bourse filing on Thursday.

The subsidiary will sell 62 items of machinery and 206 items of electronic equipment to Ningbo Jingyan Liangzao New Energy Technology for 39.3 million yuan. Additionally, 83 items of machinery and 242 items of electronic equipment will be sold to Jiangsu Jihou Intelligent Technology for 70.6 million yuan.

The smart energy company's shares fell 8% during the midday trade.

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