Core Viewpoint - The acquisition of 75% of China New Retail Supply Chain by Wanjing Capital for HKD 222.8 million has drawn significant attention due to the buyer's familial ties to influential figures in the business world, particularly Wang Zhenhua, the actual controller of New City Holdings [1][5]. Group 1: Acquisition Details - Wanjing Capital acquired 360 million shares, representing 75% of the company, at a price of HKD 0.6189 per share, which is an 82.32% discount compared to the last trading price of HKD 3.5 per share before suspension [2]. - If the mandatory cash offer to remaining shareholders is successful, Wanjing Capital will spend approximately HKD 297 million to acquire the entire equity of China New Retail Supply Chain [3]. - The acquisition price represents only 13.45% of the company's market value, which was HKD 2.208 billion as of August 14 [3]. Group 2: Company Background - China New Retail Supply Chain was established in September 2018 and operates primarily in Singapore, focusing on construction services and property investment, including civil engineering and logistics [3]. - The selling party, Alpine Treasure Limited, had previously acquired the same 75% stake for HKD 100 million, also at a significant discount [3][4]. Group 3: Financial Performance - The company reported a revenue of SGD 55.9736 million for the fiscal year 2024, a slight decrease of 0.15% year-on-year, and has been in a state of continuous loss for five consecutive years [4][5]. - The net loss attributed to the parent company was SGD 784,200, indicating ongoing financial challenges [5]. Group 4: Family Background and Future Implications - Wang Kaili, the 26-year-old daughter of Wang Zhenhua, is the sole owner of Wanjing Capital and has a strong academic background, which may influence future business strategies [6][7]. - Wang Zhenhua's wealth has significantly decreased from HKD 49.12 billion in 2020 to HKD 14.87 billion, reflecting a decline of nearly 70% [7][8]. - The acquisition may be a strategic move for Wanjing Capital to enter the capital market and potentially facilitate further capital operations or asset injections [5][6].