Core Viewpoint - New City Development (01030) announced the conditional sale of its subsidiaries, New City Jin Feng Asset Management Co., Ltd. and New City Jin Feng Securities Co., Ltd., to Jin Feng Capital Holdings Limited for a total consideration of HKD 88.05 million, aimed at optimizing resources and streamlining the group's structure [1] Group 1: Transaction Details - The sale involves two agreements: Agreement A for the sale of New City Jin Feng Asset Management Co., Ltd. for HKD 25.23 million and Agreement B for the sale of New City Jin Feng Securities Co., Ltd. for HKD 62.82 million [1] - The transactions are conditional, with SRCIM (the company's wholly-owned subsidiary) agreeing to sell and the buyer agreeing to purchase the entire issued share capital of both target companies [1] Group 2: Strategic Rationale - The board believes that the sale will allow the group to optimize resources and streamline its structure, particularly as the target companies do not have significant business operations [1] - The target companies reported an overall loss for the year ending December 31, 2024, and are expected to generate only minimal profit for the year ending December 31, 2025 [1] - The proceeds from the sale will enable the group to allocate financial resources to its primary business operations as a property developer or other future business developments [1]
新城发展(01030)拟2523万港元及6282万港元出售新城晋峰资产管理、新城晋峰证券全部股权