Honghui Group (00183) subsidiary intends to sell Hong Kong properties

According to Zhitong Finance App, Honghui Group (00183) announced that on September 28, 2026, the seller Alpha Easy Limited (a direct wholly-owned subsidiary of the company) entered into a temporary sale agreement with the buyer Mr. Liang Jun and his agent. The seller conditionally agreed to sell and the buyer conditionally agreed to buy the shares to be sold (all issued shares of the target company Brilliant Icon Limited) and debts to be sold. The total cost was HK$26 million.

After signing the temporary sale agreement, on September 28, 2026, the lender Wealthy View Limited (an indirect wholly-owned subsidiary of the Company) entered into a loan agreement with the buyer. The lender agreed to grant the buyer a loan of HK$20 million with an annual interest rate of 5% and a repayment period of 36 months from the date of withdrawal.

The target company is an indirect wholly-owned subsidiary of the Company, which is mainly engaged in property holding business. The target company is the registered and beneficial owner of the property, and the property is the target company's only significant asset. The property is located on the roof of Block C, Sea View Building, 8 Watson Road, Hong Kong. It consists of a roof and billboard space on a 15-storey non-residential building. The roof area of the property is approximately 8970 square feet. The Group has been using the property to generate revenue by authorizing the use of billboards placed on the property.

After considering the current market conditions and the performance of the property, the directors believe that the sale is a good opportunity for the Group to monetize its investment in the property, thereby allocating resources more effectively.