Fosun International: Selling equity in Guangzhou Taotong valued at 723 million yuan.
Fosun International Announcement: The company has adjusted the valuation of the sale of 100% equity of Guangzhou Taotong to RMB 723 million. The consideration for the acquisition by Fosun Happy Buy has been adjusted to RMB 317 million, of which RMB 292 million will be paid in cash and RMB 24.8112 million will be used to subscribe for 110.91 million A shares to be issued by Hangzhou Tianyuan. Mr. Huang Zhen, Mr. Tang Bin, and Mr. Yao Yu will respectively adjust the consideration to RMB 856,400, RMB 856,400, and RMB 3.6826 million. After the completion of the sale, Fosun International will no longer hold any equity in Guangzhou Taotong. This sale transaction is expected to generate a profit of approximately RMB 71.08 million for the group. The subscription transaction will be accounted for in the company's financial statements as equity investments measured at fair value and changes recognized in profit or loss.
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