Core Viewpoint - Raffles Interior (01376.HK) announced the suspension of trading of its shares on the Hong Kong Stock Exchange starting from November 4, 2025, due to a significant acquisition involving the purchase of 100% equity in Kun Yuan Assets Limited from China Jin Hong Holdings Limited, which may constitute a very substantial acquisition and potential connected transaction [1][2] Group 1: Acquisition Details - The target company, Kun Yuan Assets Limited, is registered in Hong Kong and holds 100% equity in Shenzhen Jin Xuan Technology Co., Ltd., which possesses land use rights for a specific plot in Shenzhen [2] - The total consideration for the acquisition is HKD 300 million [2] - The acquisition is subject to conditions, including obtaining shareholder approval through a special general meeting [2] Group 2: Board's Response and Decision - Since the suspension of trading, the board has deliberated on the pros, feasibility, and legality of the acquisition, with differing opinions among board members regarding the authorization of the agreement signed by the new chairman, Zheng Nenghuan [3] - The board expressed concerns about the company's financial capacity to pay the acquisition price and the potential classification of the acquisition as a defensive action by the stock exchange [3] - After thorough consideration, the board voted against the suspension directive and the current form of the acquisition agreement, indicating no intention to proceed with the acquisition at this stage [3]

Core Viewpoint - The company is involved in a significant acquisition deal to purchase 100% of the shares of Kun Yuan Assets Limited from China Jin Hong Holdings Limited, which may constitute a major acquisition and potential connected transaction [1] Group 1: Acquisition Details - The acquisition agreement was signed by Zheng Nenghuan, the new chairman and executive director, on November 3, 2025, with a total consideration of HKD 300 million [1] - Kun Yuan Assets Limited is a Hong Kong registered company that holds 100% of Shenzhen Jin Xuan Technology Co., Ltd., which possesses land use rights for a specific plot in Shenzhen [1] - The seller, China Jin Hong Holdings Limited, is fully owned by Tang Judie, who is also the spouse of Zheng Nenghuan and holds 30% equity in the offeror under a mandatory unconditional general offer [1] Group 2: Board's Response - Following the suspension of trading on November 4, 2025, the board reviewed the pros and cons, feasibility, and legality of the acquisition, with differing opinions among board members regarding the authorization of the agreement [2] - The board expressed concerns about the company's financial capacity to pay the cash consideration for the acquisition and the potential perception of the acquisition as a defensive action by the stock exchange [2] - Ultimately, the board voted against the acquisition in its current form, with no intention to proceed with the acquisition at this stage [2] Group 3: Trading Resumption - The company has applied for the resumption of trading of its shares on the stock exchange starting from November 11, 2025 [3]