sonicpinballparty| AVIC Science and Technology (02357.HK): Qianshan Electronics plans to sell Xi'an houses, structures and some equipment assets for 660 million yuan

Gelonghui May 21 丨 AVIC Science and Technology (02357sonicpinballparty.HK) announced that in order to further optimize resource allocation and revitalize existing assets, on May 21, 2024, the company and its non-wholly owned subsidiary AVIC Airborne Board of Directors approved Qianshan Electronics to sign an asset transaction contract with Aviation Industry Computing Institute. According to this, Qianshan Electronics will sell, and Aviation Industry Computing Institute will acquire the target assets at a consideration of RMB 660 million. The "target asset" is located in the yard of No. G16, South Third Ring Road, High-tech Zone, Xi'an CitysonicpinballpartyHouses (including land use rights), structures and some equipment.

The sale will help the Group further optimize resource allocation and revitalize existing assets. The board of directors expects that the net proceeds from the sale will be used for the construction of Qianshan Electronics Changning Park (Phase II) project, which will help Qianshan Electronics consolidate and enhance its core research and development capabilities, reduce operating costs, and improve overall efficiency.