Hong Kong-listed information technology and outsource software development company Inspur International has published a report, stating that it will sell its e-government business, Shandong Inspur E-Government Software Limited, to Shandong Inspur Software Company Limited for CNY23 million.
Inspur International is expected to gain about CNY259,000 from the disposal, and the capital gained will be used for general operations and the development of other potential businesses.
At the same time, Inspur International said the e-government business only contributed a small part of the overall revenue of its information technology services. Therefore, the transaction will barely impact the overall operating revenue of the company. In addition, the company can gradually reduce the trading value of related transactions and increase the business independence of the company.
Inspur International’s e-government business is mainly engaged in the manufacturing, sales and development of e-government software in China. As the purchaser, Shandong Inspur Software Company Limited is an associate of a controlling shareholder of Inspur.