Asia
Jiangsu Riying Electronics to Sell Idle Buildings for 80 Million Yuan
Jiangsu Riying Electronics (SHA:603286) plans to sell idle land and buildings in Jiangsu, China, to Jiangsu Rihuan Investment for 80 million yuan, excluding tax.The property comprises 42,173 square meters of buildings and 26,028.9 square meters of land, according to a Saturday filing.Jiangsu Rihuan Investment is controlled by Riying Electronics' controlling shareholder and actual controller Shi Rongzhu, making the transaction a related-party deal.The deal closing is subject to shareholder approval, and proceeds will be used for working capital and core business investment.
SHA:603286
