Tantech Holdings Lishui Xincai Industrial Unit Entered Into A Share Transfer Agreement With Lishui Chida Logistics; Pursuant To Agreement, Xincai Agreed To Sell All Of Shares Of Its Unit Lishui Jikang Energy Technology, To Buyer For RMB 5M
Portfolio Pulse from Benzinga Newsdesk
Tantech Holdings' subsidiary, Lishui Xincai Industrial, has agreed to sell all shares of its unit, Lishui Jikang Energy Technology, to Lishui Chida Logistics for RMB 5 million.
January 02, 2024 | 9:19 pm
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Tantech Holdings is divesting its unit, Lishui Jikang Energy Technology, which could indicate a strategic refocus or a need for liquidity.
The sale of a subsidiary can have various implications such as a strategic shift, raising capital, or divesting non-core assets. Without further context on Tantech's motivations or financial situation, the impact on the stock price is uncertain. However, the transaction is directly related to TANH and is of moderate importance to investors.
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