Baowu Magnesium Technology Co., Ltd. plans to sell 40% stake in its subsidiary, Chaohu Yian Yunhai Technology Co., Ltd., through a public listing, with a floor price at RMB116.4 million (USD16.39 million).
Yian Yunhai specializes in the production and sale of precision die-cast components made from magnesium and aluminum alloys.
The stake transfer is expected to streamline Baowu Magnesium's asset structure, improve operational efficiency, and help the company focus on its core business and accelerate high-quality growth.
