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Zhong Jia Guo Xin to Sell Machinery Portfolio for HK$6.6 Million

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Zhong Jia Guo Xin (HKG:0899) agreed to sell a portfolio of bottled water and beverage production machinery to Taizhou Zheli Materials, according to a Wednesday filing with the Hong Kong bourse.

The property developer's shares gained nearly 6% in morning trade Thursday.

The company is selling the assets for HK$6.6 million, and expects to record a gain of HK$6.3 million on the sale.

Proceeds from the sale will be used for general working capital.

The assets to be disposed do not meet the current production and environmental standards of the company, the firm said.

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