other material
confidence high
sentiment neutral
materiality 0.50
Hartford Great Health divests two Chinese subsidiaries for total ~$1,900 to stem losses
Hartford Creative Group, Inc.
- Transferred 90% of Hartford International Education Technology (Shanghai) to Shanghai Qiaoshang for $900 (RMB ¥5,850).
- Transferred 90% of Hangzhou Hartford Comprehensive Health Management to same buyer for $900; remaining 10% to Danfeng Gu for $100.
- Buyer and related individual assume all equity, debts, and losses effective August 1, 2022.
- Board cites COVID impact and China's 'Double-Reduction' education policy as cause of continued financial losses.