Zhitong Finance App News, Hehong Service (06093) announced that on November 4, 2026, the company's indirect wholly-owned subsidiary and Hongfu Ruiying (Guizhou) Information Consulting Co., Ltd. intend to sell 100% of the shares in Guiyang Xinglong Property Management Co., Ltd. to Mr. Qu Peijun and Guizhou Xingxinlong Property Management Co., Ltd. at a cost of RMB 115 million.
According to reports, the target company is mainly engaged in property management services and related value-added services in Guiyang City and other parts of Guizhou Province in China. As of the date of this announcement, the target company managed 29 property management service projects, with a total construction area of about 11.9 million square meters.
According to the announcement, the sale of the target company was a strategically considered decision aimed at enhancing the Group's operational focus and financial flexibility. The Board believes that the sale is expected to reduce the Group's outstanding liabilities through offsetting arrangements, streamline its corporate structure, and reallocate resources to businesses and regions more consistent with its long-term strategy. By selling its interests in target companies, the Group was able to streamline its business portfolio, thereby focusing more resources on its main property management and value-added services.
The sale can also reduce the risk faced by the Group as a result of managing a diverse portfolio of properties, particularly in the face of continued market fluctuations in the real estate industry. It can reduce operational complexity and related management burdens, enable the Group to more effectively manage and control operating costs, while focusing on quality improvement and technological innovation in core businesses. The Board believes that the sale is in line with the Group's strategy of streamlining its business portfolio and allocating its capital and management resources more effectively.