Looks like the asset sold was purchased for RMB160m 12 mnths ago. Profit of RMB 40m. The companys net cash exposure to the asset was RMB20m. IRR is 200% for 12 months on net cash invested. Looks good to me.
The asset was upstream so if held long term could squeeze margins. If the company just focuses on business partner and customer acquisition this is very positive for shareholders.
