CHINA LONGYUAN sells 30% of Inovance Automotive to divest loss-making business

AASTOCKS
2025.11.16 11:30

CHINA LONGYUAN (00916.HK) announced a related transaction, transferring its entire 30% stake in Inovance Automotive to Guoneng New Energy for a symbolic price of 1 RMB. Due to the long-term losses of Inovance Automotive, the company has fully written down its entire investment in 2023, and this equity transfer will not have a significant impact on the current profits

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