Henan Zhongfu Industrial (600595.SH) subsidiary Zhongfu Power plans to sell accounts receivable from Heluo Water Affairs for 135 million yuan to liquidate assets.

Henan Zhongfu Industrial (600595.SH) announced that its wholly-owned subsidiary, Henan Zhongfu Power Co., Ltd. (referred to as "Zhongfu Power"), intends to transfer its receivables from Henan Yellow River Heluo Water Affairs Co., Ltd. (referred to as "Heluo Water Affairs") to the company's controlling shareholder, Henan Yulian Energy Group Co., Ltd. (referred to as "Yulian Group"). The transfer price of the receivables is assessed at a market value of 135 million yuan. This debt transfer will help the company revitalize its existing assets, improve the efficiency of fund utilization, and reduce risks.