November 7 -- Henan Star Hi-Tech ( 000676.SZ) plans to sell its 90 percent stake in Shenzhen Yida Technology for 32 million yuan, reports yicai.com, citing a company filing.

Yida Tech had net assets of 34.36 million yuan through the end of 2010.

According to *ST Star, Yida Tech had been incurring losses for three straight years, and has not shown any sign of recovery. The sale of its stake in Yida Technology will help to generate funds for the development of its main business.

The main business of Star Hi-Tech is the manufacture of electronic digital products.

Source:CapitalVue