China Zenith Chemical Group (HKG:0362) has decided not to dispose of its subsidiary, Heihe Longjiang Chemical, a Friday bourse filing said.
The company had entered into negotiations for the disposal of its entire 90% equity stake in unit Heihe Longjiang Chemical with an independent third party, according to a Nov. 8, 2024 bourse filing.
Following the recent stabilization of calcium carbide sale prices and government support policies which can help the said subsidiary get loans for its working capital, the company has canceled its plan to sell the unit.
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