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China Risun Group announces sale of shares of its subsidiary

China Risun Group announces sale of shares of its subsidiary

China Risun Group Ltd.Hong Kong: 1907) posted an update.

China Risun Group Ltd. announced the sale of its subsidiary Hongda Chemical’s stake in Yunching Rural Commercial Bank to Xuyang Engineering for RMB 54.20 million. The deal, facilitated by the Group’s internal restructuring, involved a related transaction as Xuyang Engineering is associated with key management of China Risun. Despite the related nature of the transaction, it remains below the threshold requiring independent shareholder approval.

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