Maohua Shihua Sells Equity of Yisheng Company
Recently, Maohua Shihua announced that the company intends to transfer 36% of its holdings of Yisheng (Tianjin) Technology Co., Ltd. (Yisheng) to Tianjin Feixuan Technology Co., Ltd. at a transaction price of 74.11 million yuan.
Maohua Shihua said that the reason for the equity transfer was to avoid the negative impact of the company's own financial situation and operating results. It is known that Yisheng Company is co-funded by Maohua Shihua, Tianjin Feixuan and Baoding Technology. As of October 31, 2018, the total assets of the company amounted to 229 million yuan and the owner's equity was 112 million yuan. Before October 2018, business income was 107 million yuan, net profit was 425,000 yuan, and in 2017, Yisheng lost 460,000 yuan.
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