Core Viewpoint - China State Construction International Holdings Limited (中建富通) announced a sale agreement involving the transfer of 95% equity in Blackbird Works Supply Co. Limited for HKD 17.1 million, aimed at simplifying organizational structure and improving operational efficiency [1]. Group 1 - The sellers, East Advance Holdings Limited and Blackbird Automotive Holding Limited, are wholly-owned subsidiaries of the company [1]. - The transaction is unconditional and is set to be completed by December 31, 2025 [1]. - Prior to the sale, the target company was owned 99.999% by seller A and 0.001% by seller B [1]. Group 2 - The target company primarily provides automotive towing and logistics services in Hong Kong [1]. - Post-transaction, the ownership structure will change to 95% for the buyer, Entex International Holding Limited, and 5% for seller A [1]. - The board believes the sale will enhance the group's working capital position and eliminate the need for additional cash flow investments for future business development of the target company [1].
中建富通(00138)拟1710万港元出售Blackbird Works Supply Co. Limited 95%股权