LMZ plans to sell shares of Fangkai company and paper products company

On the evening of November 12, LMZ (600249) announced that the company plans to transfer 80% of the equity of Liuzhou LMZ Real Estate Development Co., Ltd. (hereinafter referred to as "real estate development company"), 84.62% of the equity of Liuzhou LMZ Paper Co., Ltd. (hereinafter referred to as "paper company"), as well as the equity of real estate development company, paper company and LMZ Paper Industry Co., Ltd Creditor's rights of the company (hereinafter referred to as "paper company"). According to the announcement, LMZ is planning the sale of the above-mentioned major assets. After the completion of the transaction, LMZ no longer holds the equity of Fangkai company and paper company, and no longer enjoys the creditor's rights to Fangkai company, paper company and paper company. LMZ said that the transaction party is the company's largest shareholder, Guangxi Liuzhou Industrial Investment and Development Group Co., Ltd. This transaction will constitute a connected transaction. According to the data as of June 30, 2019, the book value of the creditor's rights of LMZ holding paper products company, paper industry company and real estate development company totaled about 1.17 billion yuan (Unaudited). Liangpin added that this transaction is still in the planning stage, and necessary internal and external decision-making and approval procedures need to be performed, and there is uncertainty in this transaction.