Oriental Yuhong to sell debt-for-property assets, expected disposal loss of RMB 17.3277 million

English summary

Oriental Yuhong plans to sell 40 shops and office premises in Miyun, Beijing, with total floor area of 4,605.70 sqm, book value of RMB 36.2744 million, sale price of RMB 20.65195 million, and an estimated disposal loss of RMB 17.3277 million. Cumulative losses will reach 10% of latest audited net profit. It revitalizes idle assets but drags on earnings.