Group 1 - Chevalier International (00025.HK) announced an asset purchase agreement with 1001343586 Ontario Inc. and 1001329259 Ontario Inc. to sell its automotive business along with related assets and properties by November 12, 2025 [1] - The assets being sold include unsold new and used cars, display vehicles, parts, tires, gasoline, semi-finished products, prepaid expenses, fixed assets, business contracts, records, licenses, domains, faxes, and business names [1] - The company's main business focuses on investment holding, while the group is involved in construction and mechanical engineering, property investment, property development and operation, healthcare investment, automotive agency, insurance, and other investments [1] Group 2 - The Canadian automotive industry has faced significant challenges in recent years, including rising interest rates and increased new car costs, which have suppressed consumer purchasing intent [2] - The automotive business recorded net losses before and after tax for the past two fiscal years, exacerbated by the global trade war [2] - The board decided to exit the automotive agency market due to increasing consolidation in the Canadian automotive retail market and initiated the sale of the business after not receiving any committed purchase offers, ultimately leading to the decision to close the business to mitigate further losses [2] - The buyer, an existing automotive agency group in Ontario, expressed interest in continuing operations at the related properties, which the board views as a strategic opportunity to reduce losses and realize the investment value of the related properties [2]
CHEVALIER INT'L(00025.HK)出售加拿大佳士拿汽车代理业务及相关资产及物业