Zhitong Finance App News, Gongjin Shares (603118.SH) announced that the company plans to transfer 100% of the shares of its wholly-owned subsidiary Shandong Wenyuan Communication Technology Co., Ltd. (“Wenyuan Communications” for short). The share transfer will be pre-listed on the Shenzhen Joint Stock Exchange. Since 2022, the market sentiment of the public security network industry where Wenyuan Communications is located has declined markedly, and performance continues to be under pressure. The successful completion of this share sale will help the company focus on its core business and further optimize the company's asset structure and resource allocation.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.