Group 1 - The company, Nanhua Group Holdings, announced the sale of industrial land in Dongguan, China, for a total consideration of RMB 290 million (approximately HKD 318.7 million) [1] - The land, covering an area of about 200 acres, is located in the Qingxi Town of Dongguan, Guangdong Province, and was previously owned by the company's indirect wholly-owned subsidiary, Evergrande Toys (Dongguan) Co., Ltd. [1] - The decision to sell the asset is a strategic move to preserve resources and enhance operational flexibility due to a significant decline in demand for specific toy products caused by consumer complaints and safety claims in the U.S., as well as ongoing U.S.-China trade tensions [1] Group 2 - The board of directors believes that the sale price is fair and reasonable based on preliminary assessments of the asset's value, aligning with the overall interests of the company and its shareholders [2] - No directors have any significant interests in the sale, and there are no conflicts of interest regarding the board's decision on the sale [2] - The sale is expected to result in a gain of approximately HKD 260.9 million, improving the company's liquidity and financial position [1]
南华集团控股(00413)附属拟出售位于东莞的一幅工业用地