Jinfa Labi announced that its investee company Hanfei Investment plans to use its 49% stakes in Zhuhai Hanfei and Zhongshan Hanfei, valued at a total of 46.347 million yuan, to offset its debt to the company. The debt includes 25 million yuan in loan principal and interest paid on behalf of Hanfei Investment as a guarantor, as well as principal and interest from a debt assigned by the controlling shareholder. After the transaction, Zhuhai Hanfei and Zhongshan Hanfei will become wholly owned subsidiaries of the company. This transaction does not constitute a major asset restructuring or a related-party transaction.
Jinfa Labi Maternity & Baby Articles Co LtdHanfei Investment will transfer 49% stakes in Zhuhai Hanfei and Zhongshan Hanfei worth 46.347 million yuan to offset its debt, making both wholly owned subsidiaries and resolving the receivable.
