Newsletter summary

Sany International will sell part of its stake in Sany Robot and its subsidiaries, with an estimated revenue of about 14.3 million yuan, aimed at optimizing the business structure and improving the quality of operation.

Text of news flash

[Sany International (00631) announced the sale of Sany Robot (300024) and related shares held by its subsidiary Sany heavy equipment, with a total transaction value of RMB 45.5 million. Sany International (00631) announced on May 14, its wholly-owned subsidiary Sany heavy equipment signed an equity sale agreement with Sany Group. According to the agreement, Sany heavy equipment will sell Sany robots 45 to Sany GroupNewcryptogame2022A .5 per cent stake, as well as the vast majority of Changsha Zhiding and Changsha Zhiqiang, the employee shareholding platform of Trinity Robot, respectively. Sany International is expected to make a profit of about 14.3 million yuan from the sale. Changsha Zhiding and Changsha Zhiqiang have not carried out any business since their establishment and have not fully paid their registered capital, so neither of the two companies has generated any income or expenses since their inception. After the completion of the sale, Sany will no longer hold shares in the above-mentioned companies, the three companies will no longer be included in the list of Sany's subsidiaries, and their financial results will no longer be incorporated into Sany's group financial statements. Sany International Board of Directors is consideringNewcryptogame2022After considering the negative impact of Sany's persistent losses on the group's profitability, the loss trend that is difficult to reverse in the short term, and the fact that the sale of Sany's stake can optimize the company's business structure and resource allocation, the sale was decided. This demonstrates Sany's determination to improve its business capacity and quality and to ensure the return of shareholders and investors. In addition, Sany International will continue to promote the three major strategies of globalization, digitization and low carbon, and the business segments of the Group will adjust their business layout according to these strategies and continue to optimize their business structure in order to create long-term corporate value.