Core Viewpoint - A recent acquisition in the Hong Kong stock market has brought to light the involvement of Wang Zhenhua's daughter, Wang Kaily, and her family trust in the business landscape, indicating a potential shift in the family's influence and investment strategy [3][4]. Group 1: Acquisition Details - China New Retail Supply Chain Group Limited (03928.HK) announced a resumption of trading after a brief suspension due to insider information, revealing an agreement with Wanjiang Capital Limited to acquire 360 million shares for HKD 223 million, representing 75% of the total issued share capital at approximately HKD 0.6189 per share [3][4]. - Wanjiang Capital Limited was established on July 11, 2025, in the British Virgin Islands and is wholly owned by 26-year-old Wang Kaily, who is the sole shareholder and director [4]. - The acquisition funds are sourced from internal resources, specifically through Wang Kaily's benefits from the "Hua Sheng Trust," a family trust set up by Wang Zhenhua for his family members [8]. Group 2: Background of Wang Kaily - Wang Kaily is the daughter of Wang Zhenhua, founder of New城控股 (601155.SH), and sister to the current chairman Wang Xiaosong, indicating a strong family connection to the real estate sector [5][6]. - Wang Kaily has an educational background that includes a Bachelor's degree from Peking University and Master's degrees from the University of Sydney and University College London, focusing on digital media [10][12]. - In addition to her role in the acquisition, Wang Kaily has also co-founded a trendy toy company, Mitaki, which opened its first store in June 2025, showcasing her entrepreneurial ambitions beyond traditional real estate [13]. Group 3: Company Performance - The acquired company primarily operates in the traditional construction industry, focusing on engineering services and property investment in Singapore, with a history of underperformance, reporting total revenues of SGD 6.66 million, SGD 5.56 million, and SGD 5.55 million over the past three fiscal years, alongside net losses of SGD 1.5 million, SGD 1 million, and SGD 800,000 respectively [14].

Core Viewpoint - The acquisition of China New Retail Supply Chain Group Limited by Wanjing Capital, owned by 26-year-old Wang Kelly, highlights the emergence of a new generation in the family business, particularly in the context of the real estate sector and its associated companies [2][3][5]. Company Summary - China New Retail Supply Chain Group Limited announced a cash acquisition of 360 million shares, representing 75% of its total issued share capital, for HKD 223 million, equating to approximately HKD 0.6189 per share [2][3]. - The company has been underperforming, with total revenues for the past three fiscal years reported as SGD 6.66 million, SGD 5.56 million, and SGD 5.55 million, alongside net losses of SGD 1.5 million, SGD 1 million, and SGD 800,000 respectively [10]. Industry Context - The acquisition reflects a strategic move within the traditional construction industry, where the target company primarily operates in Singapore, focusing on construction services and property investment [10]. - The involvement of Wang Kelly, a member of the "New City System" established by her father Wang Zhenhua, indicates a potential shift in leadership and investment strategies within the family business landscape [4][5].