Striving For Holdings To Sell 31% Equity Of Changde Jinpeng Printing For RMB 142.5 Million

May 21, 2025 Leave a message

Striving for Holdings to Sell 31% Equity of Changde Jinpeng Printing for RMB 142.5 Million

On May 20th, a cigarette packaging printing company listed on the Hong Kong Stock Exchange announced that it plans to sell its 31% stake in Changde Jinpeng Printing Co., Ltd. to Hunan Caixin Capital Management Co., Ltd. for 142.5 million yuan. Striving for Holdings stated that selling its investments and utilizing resources and funds to focus on its core business would be more beneficial for the company, and the net proceeds from the sale would enhance its liquidity and meet its working capital needs.

Changde Jinpeng Printing specializes in cigarette printing and packaging services. In 2021, its share of the joint venture company Changde Jinpeng Printing's performance was approximately HKD 70.1 million; In 2022, it decreased by 97.8% year-on-year to HKD 1.6 million; In 2023, it will become an attributable loss of HKD 30.4 million. In 2023 and 2024, the after tax net profits of Changde Jinpeng Printing were -88.938 million yuan and 10.415 million yuan, respectively.
In addition, according to data, Changde Jinpeng Printing is wholly owned by Hunan Zhongyan Investment Management Co., Ltd., which holds 69% of the equity. Hunan Caixin Capital Management Co., Ltd., which is about to acquire the equity of Changde Jinpeng Printing, is 100% controlled by Hunan Caixin Investment Holding Group Co., Ltd., and Caixin Holdings is controlled by Changde Municipal Finance Bureau. From the perspective of equity, after the completion of this transaction, Changde Jinpeng Printing will become another printing and packaging enterprise with nationwide shareholding.

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