Group 1 - The core point of the article is that Rongtai Group (01172) plans to sell its subsidiary Clever Star Development Limited's entire issued share capital and inter-company debt balance of Jinjing Investment Limited for HKD 4 million to a private equity fund [1] - The main asset being sold is a residential property development project located in the Sichuan Province of China, specifically part of the Zhonggang Shanhai Forest project, covering a total land area of approximately 493,842.96 square meters [1] - The land use rights for the property have been valid since August 2013 for a duration of 70 years, designated for residential purposes [1] Group 2 - The company is reassessing its investment in the selling group due to the challenging business environment and negative financial status of the real estate sector in China, viewing this as an opportunity to reallocate resources to other business areas [2] - The estimated gain from the sale, including reserve adjustments but excluding transaction costs, is approximately HKD 145.2 million, which will significantly reduce the company's overall liabilities and strengthen its financial position [2] - This transaction is expected to help address issues related to the company's inability to express an opinion on its financial statements [2]
融太集团拟400万港元出售金锦投资有限公司