JIU RONG HOLD's subsidiary plans to sell Jiangsu Jiu Rong Comprehensive Energy and its 13 electric vehicle charging stations located in Nanjing

Zhitong
2025.09.10 13:23
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JIU RONG HOLD announced that its wholly-owned subsidiary will sell Jiangsu Jiu Rong Comprehensive Energy and its 13 electric vehicle charging stations in Nanjing, with a transaction amount of RMB 6.87 million. The buyer will assume approximately RMB 1.06 million of the target company's loan principal and RMB 18,000 in interest. The board believes that this sale will help adjust the electric vehicle charging station portfolio and avoid unnecessary financial burdens on the group

According to the Zhitong Finance APP, JIU RONG HOLD (02358) announced that on September 10, 2025, the buyer Nanjing State Grid Electric Rui Power Technology and the seller JIU RONG New Energy Technology (the company's indirect wholly-owned subsidiary) entered into an agreement, where the seller conditionally agreed to transfer, and the buyer conditionally agreed to acquire the target assets (100% equity of Jiangsu JIU RONG Integrated Energy and its 13 electric vehicle charging stations located in Nanjing), with a cash consideration of RMB 6.87 million.

In addition, the target company must repay the principal of the loan owed to the seller, approximately RMB 1.06 million, and accrued interest of approximately RMB 18,000, which will be borne by the buyer on behalf of the target company.

The board believes that the sale provides the group with an opportunity to readjust its electric vehicle charging station portfolio. The existing sites and conditions of the target assets are insufficient to meet its operational needs and business requirements, and additional capital investment is needed. Given the current market conditions and the company's present situation, the board believes that further funding to support the development of the target company would impose an unnecessary financial burden on the group. Therefore, the company considers the sale to be a prudent and responsible measure to safeguard the overall interests of the group

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