Shanghai Zhenhua Heavy Industries (600320.SH) plans to transfer all of its shares in China Communications Photovoltaic for 34.38 million yuan.

Shanghai Zhenhua Heavy Industries (600320.SH) announced that, in order to focus on its core business, optimize the allocation of resources, the company plans to transfer all of its equity in China Merchants Photovoltaic Technology Co., Ltd. (referred to as China Merchants Photovoltaic) to China Urban-Rural Holdings Group Co., Ltd. (referred to as China Urban-Rural) through a non-public agreement transfer, with a transaction price of 34.3824 million yuan. After this equity transfer is completed, the company will no longer hold any equity in China Merchants Photovoltaic.