Core Viewpoint - Lishin International (00191.HK) announced a sale agreement involving the transfer of shares in Surearn Profits, which holds a 50% interest in the property owned by Wah Lee Da, with the transaction expected to enhance the financial position of Lishin Garment Group and Lishin Development Group through increased cash flow and reduced debt [1][3]. Group 1 - The seller, Transformation International Limited, a wholly-owned subsidiary of Lishin Development, entered into a sale agreement with Jasmine Investment Development IV Limited for the sale of shares in Surearn Profits, which will not carry any encumbrances [1]. - Surearn Profits is a private limited company registered in the British Virgin Islands, holding a 50% legal and beneficial interest in Wah Lee Da, which owns the property and related assets [2]. - The property in question is a 27-story office building located in Hong Kong's commercial center, with a total gross floor area of approximately 229,206 square feet, excluding parking spaces [3]. Group 2 - The sale price is based on the agreed property value of HKD 3,498,000,000 and the net asset value of Surearn Profits at completion, with an expected net cash inflow of approximately HKD 2,400,000,000 [3]. - As of July 31, 2025, Lishin Garment Group and Lishin Development Group had net current liabilities of HKD 5,420,000,000 and HKD 4,506,000,000, respectively [3]. - The transaction is anticipated to be completed by January 2026 [4].
丽新国际(00191.HK)出售香港商业中心区办公大楼