Wire flash
Kingland Technology to Auction 77.7% Stake in Zhongke Dingshi at 50M Yuan Starting Price
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
Kingland Technology Co., Ltd. (000711.SZ) announced on September 27 that it plans to sell its 77.7152% equity stake in Zhongke Dingshi Environmental Engineering Co., Ltd. along with related creditor's rights (the 'target assets') through a public online auction. To improve asset disposal efficiency and attract potential bidders, the company has set the initial auction starting price at 50 million yuan. If the transaction is completed, Kingland Technology and its subsidiaries will no longer hold any equity or creditor's rights in Zhongke Dingshi, and the subsidiary will be deconsolidated from the company's financial statements. Based on financial data as of June 30, 2026, if the target assets are sold at the initial auction price of 50 million yuan, the company estimates a consolidated disposal loss of approximately 55.1786 million yuan.
Source report
Date: September 27
Source: Cailianshe
Jinglan Technology (000711.SZ) announced that it plans to sell its 77.7152% equity interest in Zhongke Dingshi Environmental Engineering Co., Ltd. ("Zhongke Dingshi") along with related creditor's rights (collectively, the "Subject Assets") through a public online auction.
To improve asset disposal efficiency and attract potential bidders, the company has set the initial auction starting price at RMB 50 million.
Key implications of the transaction:
- Upon completion, Jinglan Technology (including its subsidiaries) will no longer hold any equity or creditor's rights in Zhongke Dingshi.
- Zhongke Dingshi will be deconsolidated from the company's consolidated financial statements.
- Based on financial data as of June 30, 2026, if the Subject Assets are sold at the initial auction price of RMB 50 million, the company expects to record a disposal loss of approximately RMB 55.1786 million on a consolidated basis.
Source
财联社Eastern
Part of this Story
Jinglan Technology to auction 77.7% stake in Zhongke Dingshi for 50 million yuan