Sichuan Gaojin Food Co. has sold a 99% stake in a processing plant in Shehong, southwest Sichuan to a local property developer for RMB23.3 million (US$3.4 million).

The Shehong plant, which has been suspended production from August 2009, has registered capital of RMB10 million (US$1.5 million).

The Shehong plant was sold as Sichuan Gaojin works at consolidating business in Sichuan while seeking expansion out of the province.