Zhitong Finance App News, Jinhui Holdings (09993) announced that on July 20, 2026, the seller Jinhui Group, the buyer, Beijing Minyue Management Consulting, and the target company, Beijing Jinhui Chuangling Technology Co., Ltd., signed an equity transfer agreement. The seller has agreed to sell and the buyer has agreed to purchase all of the target company's shares. The total cost is RMB 1,295,442,017, including the share cost payable in cash of RMB 1; and the buyer bears the debt owed by the target group of RMB 1,295,442,016.
After completion, the target company will no longer be a subsidiary of the Company, and the target group's financial performance, assets and liabilities will no longer be comprehensively included in the Group's financial statements.
Shanghai Jiulong is a wholly-owned subsidiary of the target company. The main asset of the target group is a commercial building located at 601 Liyang Road, Hongkou District, Shanghai, China, with a total construction area of about 31,750 square meters. It is used for hotel operations and is owned by Jiulong, Shanghai.
The Company believes that the sale provides the Group with an opportunity to resolve the target company's repayment liabilities (including bank loans and other outstanding debts and payables from the Beijing Branch of Xiamen International Bank Co., Ltd.). For the two years ended 2024 and 31 December 2025, the target group achieved net losses after tax of approximately RMB 90.98 million and RMB 37.23 million, respectively. In view of the target group's loss situation and the target company's outstanding debts, the Company believes that the sale will enable the Group to no longer bear repayment and financial liability related to the target group. Since the buyer has undertaken to repay its debts, the completion of the sale will effectively reduce the Group's debt, improve its debt structure, and ease its working capital pressure. Taking into account the financial situation and operating performance of the target group, the Company believes that the sale was commercially reasonable and in line with the overall interests of the Company and its shareholders.