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Chinese automaker Haima sells properties to raise funds

Auto News - Published on Tue, 21 May 2019

Image Source: Reuters
Reuters reported that China's Haima Automotive Group Co Ltd said the company planned to sell over 400 units of real estate to revitalise its corporate assets and boost liquidity. The unusual property sell-off is another sign of struggles faced by small- and mid-sized automobile manufacturers as car sales dropped in the world's largest auto market.

The Hainan Island-based carmaker said in two recent stock exchange filings that the net total value of the assets, ranging from flats in Shanghai to shops in Haikou, will be CNY 28.27 million (USD 4.09 million).

Source :

Posted By : Rabi Wangkhem on Tue, 21 May 2019
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