Midland Holdings (02671) sold 43% of the shares in American Construction for 338.589 million yuan

Zhitong Finance App News, Midland Holdings (02671) announced that on May 26, 2026, the company (as the seller) signed an equity transfer agreement with the buyer Suzhou Xiangyang Technology Industry Development Co., Ltd., to sell 43% of the shares in Meixi Construction to the buyer at a cost of RMB 338.589 million.

Immediately prior to the completion of the transaction, the company held 51% of the shares in American Construction, while American Construction was a non-wholly-owned subsidiary of the Company. After the transaction was completed, the company's shareholding in American Construction was reduced to 8%, and American Construction was no longer a subsidiary of the company.

American Construction is mainly engaged in providing professional engineering turnkey services. In recent years, the professional construction engineering turnkey market has faced increasing competitive pressure and relatively low profit margins. After considering the current market conditions, the past performance of American Construction and its business prospects, the board of directors believes that the sale is an appropriate opportunity for the Group to streamline its business portfolio and further focus its resources and management attention on core business segments with stronger growth potential and more sustainable returns.