Summary by Futu AI
NEW FIRE TECHNOLOGY HOLDINGS LIMITED (“NEW FIRE TECHNOLOGY”) ANNOUNCED THE COMPLETION OF THE SALE OF THREE OF ITS FLAGSHIP COMPANIES. According to the previous announcement, the sale, which was originally scheduled to be completed on December 31, 2023, will require more time for both buyers and sellers to determine and fulfill their obligations, and the final completion date has been postponed to March 31, 2024. New Fire Technologies completed the sale of HBTPower (BVI) on January 11, 2024, completed the sale of New Huo Solutions on February 9, and completed the sale of HBTPower (US) on March 12. The transaction is expected to generate unaudited revenues of HK$4.5 million for NIT. Upon completion, the target company will no longer be a subsidiary of NIT and its financial results will no longer be included in NIT's consolidated financial statements. The NIS scheme used the net proceeds of approximately HK$257.1 million to settle the Group's debt. The transaction was announced externally on 12 March 2024 on behalf of the Executive Director, Mr. Du Chun.