Meibang Sold Capital Again To Sell 10.10% Shares Of Huarui Bank

On April 18, Meibang clothing announced that the company is planning to sell assets, which is expected to constitute a major asset restructuring. The assets to be sold are shares of Shanghai Huarui Bank Co., Ltd. (hereinafter referred to as "Huarui bank").

According to the announcement, the target of the sale of Meibang clothing is the shares of Shanghai Huarui Bank Co., Ltd. (hereinafter referred to as "Huarui bank"), which holds 15.00% of the shares of Huarui bank, and plans to sell 10.10% of the shares of Huarui bank.

In view of holding the remaining 4.9% shares of Huarui bank, Meibang apparel also expressed the willingness to continue to sell.

Meibang apparel said in the announcement that the company will negotiate with the trading partner and sign relevant agreements, hire independent financial consultants and legal advisers to verify the transaction and issue relevant professional opinions, and submit the transaction to the company's board of directors and the general meeting of shareholders for deliberation.

According to Meibang apparel, the assets sold this time belong to the assets with low relevance to the company's main clothing business, which is conducive to revitalizing existing assets and in line with the company's strategic planning. The proceeds from the sale of assets will be used to supplement the company's working capital, which will have a positive impact on the company's financial situation and operating results. At the same time, the company will integrate resources, focus on the main business, and strengthen the competitiveness in clothing design and sales, brand promotion and other related fields.

Prior to that, on March 9, Meibang clothing announced that the company and its holding subsidiary, Shanghai banggou Information Technology Co., Ltd., planned to sell 100% equity of Shanghai Mold Co., Ltd., with a total amount of RMB 448 million.