Business Daily Media

Men's Weekly

.

Yeebo Announces the Disposal of 20.02% of the Equity Interests of Nantong Jianghai at a Consideration of RMB3,232 Million

HONG KONG SAR - Media OutReach Newswire - 13 March 2024 – Yeebo (International Holdings) Limited ("Yeebo" or the "Company", stock code: 259, which together with its subsidiaries is referred to as the "Group") announces that the Group has entered into the Share Purchase Agreement with Zhejiang Construction Investment Group Company Limited ("Zhejiang Construction Investment"), a state-owned enterprise, through its direct wholly-owned subsidiary, Billion Power Investment Limited.

The Group agrees to sell 20.02% of the total issued share capital of Nantong Jianghai Capacitor Co., Ltd. ("Nantong Jianghai") to Zhejiang Construction Investment at a consideration of RMB3,232,470,000, representing a price of RMB19 per share. The sale consideration shall be paid in cash by Zhejiang Construction Investment.

Upon the completion, the Group will continue to own 74,891,000 Nantong Jianghai shares, representing 8.81% of the total issued share capital of Nantong Jianghai, and Nantong Jianghai will cease to be an associate of the Group. Currently, the Group has no intention to dispose of further Nantong Jianghai shares. As of yesterday's closing price of Nantong Jianghai at RMB18.53 per share, the Group's stake in Nantong Jianghai is valued at RMB1,388 million.

The Company intends to apply the net proceeds from the disposal to invest into its existing business to improve its operational capabilities, while part of it will be used as general working capital. If appropriate opportunities arise, the Company may consider engaging in strategic business acquisitions. The Company may consider returning the surplus cash to shareholders by way of a declaration of dividends. In addition, a special general meeting will be convened and held by the Company to seek the Shareholders' approval for the Share Purchase Agreement and the disposal.

Mr. Fang Yan Tak, Douglas, Chairman of Yeebo, said, "In addition to focusing on deepening its core business, Yeebo is also actively exploring investment or acquisition opportunities for market leading companies with high technological advantages, as well as undertaking a strategic review of its businesses and investments. The Group started investing in Nantong Jianghai in 2005. Its business has since grown substantially, and it became an independently listed company in 2010. We consider that the introduction of Zhejiang Construction Investment as a strategic investor into Nantong Jianghai would further enhance its future growth and development. In addition, the disposal would crystalise a gain on its equity investment. It will better position the Company for further development on its businesses and stay the course on its transformation and strategic focus on industries centered on advanced technology-based manufacturing."

Hashtag: #Yeebo

The issuer is solely responsible for the content of this announcement.

About Yeebo (International Holdings) Limited

Founded in 1988, Yeebo (International Holdings) Limited is a diversified electronic component company, with a wide range of business interests in flat panel display, OLED and capacitor. Headquartered in Hong Kong, the manufacturing activities largely reside in Guangdong and Jiangsu provinces. With a global sales footprint, Yeebo is able to serve its global customers on a local basis.

News from Asia

Wildberries tests ready-to-eat food delivery from restaurants

MOSCOW, RUSSIA - Media OutReach Newswire - 16 July 2025 - Wildberries, a leading digital platform in Eurasia, is launching a pilot service for express delivery of ready-made meals from restaurants...

MSIG Hong Kong’s 2024 Claims Report announces multi-year growth in its claims settlement ratio and highlights award-winning claims processing innovation

94.5% claims settlement ratio was achieved amidst a difficult business environment First year that two categories – Employees' Compensation Hong Kong and Marine - saw settlement ratios of 100% D...

Johnson Electric reports Business and Unaudited Financial Information for the First Quarter of Financial Year 25/26 and Formation of Joint Ventures in the PRC for Humanoid Robotics Business

HONG KONG SAR - Media OutReach Newswire – 16 July 2025 - This news release is made by Johnson Electric Holdings Limited ("Johnson Electric" or the "Company" and together with its subsidiaries, the...

Biotech Breakthroughs in Anti-Aging: Decoding the Hallmarks of Aging and the Longevity Code

The Hong Kong Society of Cosmetic Chemists (HKSCC) Invites Swiss Biotech Expert to unveil scientific truths behind aging Clinical Evidence Confirms Anti-Aging Efficacy of Plant-Based Stem ...

This Summer, Take a Break with a Brick. Join LEGO® Group and Minifigure "Lok Jai" on a Joyful Journey Across 8 "Fun Spots" Explore Hong Kong’s Map of Happiness and Make the Most of Your Holiday

HONG KONG SAR - Media OutReach Newswire - 16 July 2025 - This summer, LEGO® Group teams up with popular minifigure Lok Jai to invite everyone in Hong Kong—young and old—to "Take a Brick" and enjoy...

SY Holdings Issues Positive Profit Alert for 1H 2025: Net Profit Expected to increase by approximately 20%, Platform-Based Tech Revenue Share Surpasses 50%

SHENZHEN, CHINA - EQS Newswire - 16 July 2025 - SY Holdings Group Limited ("SY Holdings" or the "Group", Stock Code: 6069.HK), a leading digital-intelligence technology company focused on "AI + Ind...

SUNRATE Awarded In CNBC’s World’s Top Fintech Companies 2025 List

SINGAPORE - Media OutReach Newswire - 17 July 2025 - SUNRATE, the global payment and treasury management platform, announced today that it has been included in the prestigious CNBC's list of the W...

Reshaping Global Lubricant Supply Chains: Trump-Era Tariffs Driving Industry Pivot Toward Asia

SINGAPORE - Media OutReach Newswire - 17 July 2025 - With the global lubricants industry still adjusting to the lasting impact of U.S. trade policy enacted during the first presidential term ...

Southco Adds New Options To Its E5 Line Of Cam Latches

HONG KONG SAR - Media OutReach Newswire - 17 July 2025 - Southco is adding two new options to its E5 line of quarter-turn cam latches, opening up a variety of new functionalities...

EPIC 2025 Outdid Itself with Record-High 1,200 Applications

Doubled from last year with 87% entering the Hong Kong startup competition from overseas HONG KONG SAR - Media OutReach Newswire - 17 July 2025 - EPIC 2025, organised by Hong Kong Science and Tech...

Australian Businesses Still Stuck in the AI Hype Cycle

Data Governance Failures, ROI Gaps and Unclear Strategy Slowing Progress Despite artificial intelligence (AI) dominating headlines and boardroom ag...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

The Next Generation of Maritime Sustainable Solutions

As organizations globally seek innovative ways to improve sustainability and their impact on Earth, the American Waterways Operators (AWO), a lead...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Sell by LayBy