Xinyang Maojian Group (HK:0362) has released an update.
Xinyang Maojian Group has successfully completed the sale of land rights for approximately 215,764.08 sq.m in the PRC, amounting to RMB156,440,000, which is expected to result in a gain of about RMB77,827,000 for the fiscal year ending June 30, 2024. The company plans to use the proceeds from the sale to repay debts, cover staff remunerations, and settle other payables. The completion of the transaction marks a significant financial milestone for the company, enhancing its asset liquidity and financial stability.
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