Core Points - The company announced the successful acquisition of ICP license for the target company, which allows it to provide online training courses in mainland China [1] - The acquisition and share transaction have progressed, with the target company's financial performance integrated into the company's financial statements since January 2025 [1] - The completion of the acquisition and the domestic equity transfer agreement has been confirmed, with all cash payments made [1] - The share swap sellers have obtained overseas direct investment approvals in June and August 2025, and are currently applying for approval for the subscription of shares [1] - The share transaction is still pending completion, and the company will provide further updates on the timeline [2] Summary by Sections - **Acquisition Details** - The target company successfully obtained the ICP license on October 18, 2025, enabling it to operate an information platform for online training [1] - The acquisition was completed in January 2025, with the target company's financials now included in the company's reports [1] - **Financial Transactions** - The second payment condition for the domestic equity transfer agreement was met in April 2025, and the full cash consideration has been paid [1] - **Regulatory Approvals** - Share swap sellers received overseas direct investment approvals in June and August 2025, and are in the process of applying for further approvals [1] - **Future Updates** - The company will announce the latest timeline for the share transaction completion as it remains pending [2]

Core Viewpoint - Alpha Enterprises (00948.HK) announced the sale of a 70% economic interest in Shenyang Jinyi E-commerce Co., Ltd. for a total consideration of HKD 27.5 million, which will result in the target company no longer being a subsidiary of the company and its financial performance not being consolidated into the company's financial statements [1][2]. Group 1 - The sale agreement was signed with Stlet International Group Limited, and the transaction includes the rights to shareholder loans owed by the target company to the foreign-owned enterprise [1]. - The target company operates in China and is primarily engaged in e-commerce, holding necessary licenses such as the ICP license and ICB license [1]. - The decision to sell was influenced by the target group's poor operational performance due to a downturn in the Chinese economy, leading to lower-than-expected consumer demand and operational losses [2]. Group 2 - The board of directors considered the sale price to be 28.8% higher than the net asset value of the 70% stake as of March 31, 2025, which includes goodwill and intangible assets recognized during a previous acquisition [2]. - The uncertain business outlook for the target group and the ongoing costs associated with holding the economic interest were significant factors in the decision to proceed with the sale [2]. - The completion of the sale is expected to provide additional liquidity to the group immediately [2].