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].