Harbin Air Conditioning (600202.SH) intends to transfer its 40% equity interest in its holding subsidiary Fujin Chuan.

Harbin Air Conditioning (600202.SH) announced that the company plans to transfer 40.00% of its equity in Harbin Fushanchuan Biotechnology Development Co., Ltd. (hereinafter referred to as "Fushanchuan"), and will list it for pre-listing on the Heilongjiang United Property Rights Exchange. The announcement stated that Fushanchuan's bio-technology business lacks market competitiveness, has no synergy with Harbin Air Conditioning's core business, and is in a limited market size with dispersed resources. With continuous decline in operating income and profits over the past three years, the company plans to publicly list the equity it holds in Fushanchuan as one of its management measures to enhance quality and efficiency. This move will help the company focus on its main business, further optimize resource allocation and asset structure, reduce management and operating costs, and improve asset operating efficiency.