Jiarui International sells 40% stake in Jiamei New Materials Technology (Yulin) Co., Ltd.

Jiarui International (00822.HK) announced that on December 23, 2024, its indirect wholly-owned subsidiary signed an equity transfer agreement with the buyer, agreeing to sell 40% of the equity of the target company Jiamei New Materials Technology (Yulin) Co., Ltd. for a total cash consideration of RMB 10 million. The target company was established on September 18, 2021 and is mainly engaged in the sales and production of metal materials. The Group expects the net proceeds from the sale to be approximately RMB 9.9 million, which is planned to be used for general working capital.