TCL Zhonghuan Renewable Energy Technology's subsidiary plans to sell 100% equity of SPMY.

TCL Zhonghuan Renewable Energy Technology (002129.SZ) announced that its subsidiary Maxeon, through its wholly-owned subsidiary SunPower Technology Ltd., has recently signed a "Equity Sale and Purchase Agreement" with MFS TECHNOLOGY (S) PTE LTD. SPT intends to sell 100% of the shares of its Malaysian subsidiary SunPower Malaysia Manufacturing Sdn. Bhd. (referred to as "SPMY") to MFSS. The total consideration for this transaction does not exceed $51 million, and after the completion of the transaction, the target company will no longer be included in the consolidated financial statements of the company. It is reported that this transaction aims to optimize the capital structure of Maxeon, unlock inefficient assets, and enhance its asset realization capability.