June 21 – Ningbo-based garment producer Youngor Group (600177) filed it intends to sell its subsidiary Smart Apparel (Hong Kong) to Chengzhou Shengtai Dyed Fabrics Technology, reports stcn.com.

If the audited net assets of Smart Apparel on May 20 are found to worth less than US$80 million, the sale price will be set at US$80 million. If the audited net assets are worth more than that sum, the sale price will be equal to the audited net asset value.

Shares of Youngor Group (600177) traded at 9.07 yuan as of 11:30 this morning.