HKR INT'L (00480) plans to sell all shares of Qiao Zhu Limited for HK$107 million.

HKR INT'L (00480) announced that on August 27, 2026, the seller Hanbright Assets Limited (wholly owned by the company), the company (as guarantor of the seller) and the buyer Apex Future International Limited entered into a sale and purchase agreement, whereby the seller conditionally agreed to sell, and the buyer conditionally agreed to purchase all issued share capital of the target company, Qiao Zhu Limited, for a consideration of HK$107 million, subject to adjustments in accordance with the terms and conditions of the sale and purchase agreement. Upon completion, the company will no longer hold any equity interests in the target company, and the target company will no longer be a subsidiary of the company. Therefore, the financial performance of the target company will no longer be consolidated into the company's consolidated financial statements after completion. The target company is a company registered in Hong Kong and its sole business is to hold the properties. The properties include: (1) a residential unit (comprising units 229 and 231) with a usable area of approximately 1,480 square feet, located on the 2nd floor of Block C, Discovery Bay Plaza, Lantau Island, New Territories, which is subject to a two-year lease with an independent third party that will expire in September 2028; and (2) a residential unit with a usable area of approximately 2,786 square feet, located on the 14th floor of Block 2, Century Tower, No. 1 and 1A, Glenealy, Mid-Levels, Hong Kong, together with a parking space on the 1st floor of Century Tower, which is subject to a two-year lease with a subsidiary wholly owned by CCM Trust that will expire in September 2026 and extend for three months until December 2026. These properties were respectively purchased by the group in 2016 and 1996, at a total acquisition cost of approximately HK$57.7 million, and have been held by the group as investment properties. The sale provides the company with a good opportunity to liquidate its investment to obtain capital returns and improve cash flow.