Core Viewpoint - 中加国信 announced a conditional agreement to sell its entire issued shares in four subsidiaries for a total cash consideration of RMB 3 million, aiming to reduce losses and improve operational efficiency [1] Group 1: Transaction Details - The agreement is with Yian Venture Capital Limited, and the completion of the sale will result in the target companies no longer being subsidiaries of 中加国信 [1] - The total cash consideration for the sale is RMB 3 million, which is approximately HKD 3.186 million [1] Group 2: Financial Performance and Strategy - The target companies, registered in the British Virgin Islands, have been consistently recording losses over the past few years [1] - Due to the recent market conditions in China's property sector, economic uncertainties, and rising construction costs from global inflation and trade wars, 中加国信 has adopted a conservative approach towards its property development business [1] - The proceeds from the sale are intended to be used for future business development and general working capital [1]
中加国信(00899.HK)拟300万元出售物业发展业务