[Phihong] Announcement regarding disposal of real estate by subsidiary Jin Shenghong (Jiangxi) Electronics Co., Ltd. (PHE)
Phihong Technology's 100% indirect subsidiary, Jin Shenghong (Jiangxi) Electronics (PHE), is selling real estate in Jiangxi Province, China, to its group subsidiary, Phihong (Dongguan) Electronics (PHC). The transaction price is 10 million RMB (tax included). The purpose is to liquidate assets to repay PHC's advance payments. The decision was based on third-party appraisal.
📋 Article Processing Timeline
- 📰 Published: June 5, 2026 at 09:00
- 🔍 Collected: June 6, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: June 6, 2026 at 15:33 (7h 33m after Collected)
1. Name and nature of the target: Land, buildings, and equipment in the Fengyuan Avenue area, Shangzhuang Street, Fengcheng City, Jiangxi Province.
2. Date of occurrence: June 5, 2026.
3. Board approval date: June 5, 2026.
4. Transaction amount: Total building area of 10,826.07 sqm and land area of 41,957.00 sqm. Total price including land, buildings, and structures is 10 million RMB (tax included), covering interior decorations, power distribution equipment, etc.
5. Counterparty: Phihong (Dongguan) Electronics Co., Ltd. (PHC), a 100% indirectly held subsidiary of the company.
6. Purpose: To liquidate real estate assets to facilitate the repayment of PHC's advance payments.
7. Pricing method: Negotiation based on a third-party valuation of 10,152,943.34 RMB by Beijing Chenxinbo Asset Appraisal Co., Ltd.
8. Audit: Approved by the audit committee on June 5, 2026.
2. Date of occurrence: June 5, 2026.
3. Board approval date: June 5, 2026.
4. Transaction amount: Total building area of 10,826.07 sqm and land area of 41,957.00 sqm. Total price including land, buildings, and structures is 10 million RMB (tax included), covering interior decorations, power distribution equipment, etc.
5. Counterparty: Phihong (Dongguan) Electronics Co., Ltd. (PHC), a 100% indirectly held subsidiary of the company.
6. Purpose: To liquidate real estate assets to facilitate the repayment of PHC's advance payments.
7. Pricing method: Negotiation based on a third-party valuation of 10,152,943.34 RMB by Beijing Chenxinbo Asset Appraisal Co., Ltd.
8. Audit: Approved by the audit committee on June 5, 2026.
FAQ
Why did Phihong Technology dispose of the real estate?
The subsidiary PHE sold the real estate to liquidate assets and repay the advance payments of PHC.
Does this transaction impact Phihong's operations?
It is a strategic measure intended to improve liquidity and consolidate assets within the group.
How was the transaction price determined?
It was determined through negotiation (price-bargaining) within the group based on an appraisal by Beijing Chenxinbo Asset Appraisal Co., Ltd.