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Hisense Home Appliances to Sell Thai Industrial Land for THB 432.6 Million
Hisense Home Appliances Group Co., Ltd. (00921.HK) announced a deal to sell a parcel of industrial land in Thailand for approximately THB 432.6 million (about CNY 87.87 million) as part of a strategic optimization of its overseas assets. The transaction is expected to generate a positive cash inflow and an accounting gain for the company.
Transaction Details
According to a company filing, the sale and purchase agreement was executed between Hisense's wholly-owned subsidiary, HHA (Thailand) Co., Ltd., and the buyer, LigentComm. The deal involves a plot of land located in the Amata City Chonburi Industrial Estate.
The key figures of the transaction are:
- Land Area: Approximately 61.8 rai (around 98,890 square meters).
- Purchase Price: Approximately THB 432.6 million (equivalent to about CNY 87.87 million).
Strategic Rationale
AdThe land being sold is part of a larger, 394-rai parcel that Hisense acquired in 2024. The initial purchase was intended to support the group's global "7+1" manufacturing network and meet growing demand in the ASEAN market.
Hisense stated the decision to reduce its land holdings is aimed at optimizing its overseas production layout and revitalizing existing land assets. The company confirmed that the sale will not affect the original designed production capacity of its Thai manufacturing base.
Financial and Operational Impact
Hisense anticipates the sale will yield both financial and strategic benefits. The company expects a positive cash inflow and an estimated accounting gain from the disposal.
Operationally, the move is consistent with the group's strategy to focus resources on core manufacturing capabilities. Hisense also noted it expects to benefit from synergies with neighboring manufacturers in the industrial park, including LigentComm, to support future development.
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