On the evening of May 20crashbandicootonline, ST Molong (002490) issued an announcement saying that the company plans to sell its 100% stake in Shouguang Maolong and Molong Logistics. The move aims to optimize the asset-liability structure, divest inefficient assets, and focus on the main business of energy equipment manufacturing.

The announcement shows that the registered capital of Shouguang Maolong is 11.crashbandicootonline.12 billion yuan, was established on August 1, 2000. Its main business includes research and development, technology promotion, and technical services of new materials for energy equipment. As of March 31, 2024, Shouguang Maolong's total assets were 8crashbandicootonline.79 billion yuan, net assets are 154 million yuan, operating income in 2023 is 71.8032 million yuan, and net profit is-270 million yuan.

Molong Logistics has a registered capital of 3 million yuan and was established on June 30, 2011. It mainly engages in logistics services such as general freight and cargo warehousing. As of March 31, 2024, Molong Logistics's total assets were 105 million yuan, net assets were 2.6127 million yuan, operating income for 2023 was 2.2165 million yuan, and net profit was-2.7073 million yuan.

At present, the counterparty, transaction plan and transaction price have not yet been determined, and it is not clear whether this transaction involves related party transactions or major asset restructuring. ST Molong said that this transaction is still in the planning stage, and after relevant matters are determined, the approval procedures will be performed in accordance with regulations and information will be disclosed in a timely manner.

The board of directors has approved relevant proposals, and the company is currently carrying out relevant evaluation and audit work. If the transaction involves related party transactions or material asset reorganization, ST Molong will perform the review procedures and disclosure obligations. The purpose of this transaction is to improve the company's operating performance, enhance cash flow, and promote the company's long-term stable development.

(Article sourcecrashbandicootonline: Reading)