Asia
Winnovation to Offload Subsidiary for 100 Million Yuan
Winnovation Culturaltainment Development (SHE:000620), through its units, agreed to fully offload subsidiary Xining Yingxin Real Estate for a total consideration of 100 million yuan, according to a Shenzhen bourse filing on Wednesday.Xipeng Municipal Construction (Jiangsu) will acquire Xining Yingxin Real Estate.Moreover, Winnovation's subsidiary, Changsha Tongguan Kiln Guofeng Amusement Park Culture Tourism, signed an agreement with Xipeng Municipal Construction for the latter to assume Changsha Tongguan Kiln's debt worth 353.3 million yuan.The Chinese cultural tourism company's shares rose 1% at the close.
SHE:000620
