First Tractor Co Halts Asset Disposal Plan

First Tractor Co (HK:0038) has released an update.

First Tractor Co’s subsidiary, YTO Diesel Engine, has terminated its plan to dispose of a 0.8827% equity interest in Zhongyuan Bank due to a lack of eligible buyers during the public listing period. The decision came after the equity interest, valued at RMB667.83 million, failed to attract any interested transferees. This move highlights the challenges companies face in divesting substantial assets in a competitive market environment.

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