Xinfengtai Group (01771.HK) plans to sell its entire equity interest in Wuxi Xinfengtai Automobile Co., Ltd. for RMB 20.3 million.

Zhitong Finance APP News, Sunfonda Group (01771.HK) announced that on October 14, 2026, the sellers Sunfonda Automobile and Sunfonda Technology Development (both indirect wholly-owned subsidiaries of the company) intend to sell the entire equity interest in Wuxi Sunfonda Automobile Co., Ltd. to Shen Xuelong and Sun Qian for a total consideration of RMB 20.3 million. In addition, the buyers also agreed to provide a loan to the target company to repay the loan of RMB 14.94 million owed by the target company to Sunfonda Technology Development. As of the date of this announcement, the target company owns the target property located on Xingchuang 4th Road, Wuxi City, Jiangsu Province.