Financial Wire

GCL System to Dispose of TCL Zhonghuan's Subsidiary for 502 Million Yuan; Shares Up 4%

-- GCL System Integration Technology (SHE:002506), through Xiamen Yongxin Sunshine Investment Partnership (Limited Partnership), will dispose stake in Zhonghuan Leading Semiconductor Technology for a consideration of 501.5 million yuan, according to a Shenzhen bourse filing on Saturday.

The power company's shares jumped less than 4% during Monday's afternoon trade.

The stake, which represents 73,384,649 shares, will be sold to Nanjing Yida Huiling Venture Capital Partnership (Limited Partnership).

Zhonghuan Leading Semiconductor is a subsidiary of TCL Zhonghuan Renewable Energy Technology (SHE:002129).

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