Shenzhen Gongjin Electronics (603118.SH) is preparing to transfer 100% of the equity of Wenyuan Communication.

Gongjin Co., Ltd. (603118.SH) announced that the company intends to transfer its 100% equity interest in its wholly-owned subsidiary Shandong Wenyuan Communication Technology Co., Ltd. (referred to as "Wenyuan Communication"). This equity transfer will be pre-listed at the Shenzhen United Property Exchange. Since 2022, Wenyuan Communication has faced a significant decline in the market conditions of the public security private network industry, resulting in sustained performance pressure. If the equity sale proceeds smoothly, it will be beneficial for the company to focus on its core business, further optimizing the company's asset structure and resource allocation.