National ELEC H (00213) subsidiary plans to acquire Hong Kong properties for HK$195 million

According to Zhitong Finance App, NATIONAL ELEC H (00213) issued an announcement. On July 17, 2026 (after the transaction period), the buyer Shutian Co., Ltd. (an indirect wholly-owned subsidiary of the Company) signed an interim agreement with the seller Cerana Limited. The total cash cost relating to the acquisition of the property was HK$195 million. The acquisition is expected to be completed on the completion date, subject to the conclusion of a formal contract and the preconditions to be set out therein.

The property includes three plots of land located in Sheung Wan, Hong Kong, registered in the Land Registry as the remainder of Inland Lot No. 863 F, Mainland Section 863 E, and the remainder of Inland Lot No. 863 D, together with the houses, structures and buildings located above them at 94, 96 and 98 Bonham East Street, Hong Kong.

The Board believes that the acquisition provides the Group with a good opportunity to expand its property portfolio. Considering the current market conditions and the strategic location of the property, the directors believe that the terms of the acquisition are fair and reasonable and conform to the overall interests of the Company and shareholders.