Beijing Enterprises Holdings reported selling its 55.5% stake in Beijing's Jianguo Hotel for HK$153 million (US$19.62 million), saying it would be focusing on its core infrastructure and utilities businesses. The announcement came as the company reported an interim first half net profit of HK$210.73 million, up 15.88% year-on-year. The net got a lift from a $22.2 million exceptional gain on the sale of a 20% stake in network equipment maker Beijing International Switching System to Siemens.
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