ST Weihai (002586) has announced plans to divest its 90.3085% stake (90.3085 million shares) in subsidiary Shanghai Millennium Urban Planning Engineering Design Co., Ltd. through the Ningbo Property Rights Trading Center. The minimum listing price will be set at or above the independent appraisal value, with a base price of RMB 521,600 currently established.
The transaction details—including the ultimate buyer, final consideration, and potential association with related parties—remain undetermined, introducing material uncertainty about completion. The company clarified this divestment does not qualify as a major asset restructuring under CSRC regulations, but cautioned investors about inherent execution risks.
This move appears part of ST Weihai’s broader portfolio optimization strategy, though the unusually small base price relative to the stake size suggests either a typographical error in the disclosure or an unconventional valuation approach. Market analysts recommend close monitoring of subsequent announcements for clarification on pricing methodology and identified buyers, given the limited transparency in current disclosures.
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