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Chow Tai Fook Divests Hunan Highway Company for CNY 1.61 Billion, Expects CNY 80M Loss

GateNews
Stocks

According to Jin10, Chow Tai Fook (01929.HK) announced on May 13 that its board has approved the sale of 100% equity stake in Hunan Chow Tai Fook Chuangjian Road Company for approximately CNY 1.61 billion. The transaction, executed under a share transfer agreement signed on the same day, is expected to result in a loss of approximately CNY 80 million for the fiscal year ending June 30, 2026. The target company operates the Changsha-Liuyang Expressway in Hunan Province, a dual-direction highway connecting Changsha and Liuyang. The company will repay shareholder loans within 30 business days following completion of the transaction.

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