Summary by Futu AI
CBK Holdings Limited (the "Company") announced on September 13, 2024 that its wholly-owned subsidiary has signed a share transfer agreement with an independent third party, Fly2 International Trading (Hong Kong) Limited (the "Buyer"), to sell all of its issued share capital in Speedy Holdings Limited (the "Sale Company"), representing 100% of the share capital, for a transaction price of HKD 1,070,000. The transaction was completed on the date of signing. After completion, the Sale Company will no longer be a subsidiary of the Group, and its financial performance will no longer be included in the Group's consolidated financial statements. According to the GEM Listing Rules, this transaction is classified as a discloseable transaction. The Company stated that this sale will enhance the Group's cash flow, improve its working capital position, and enable the Group to reallocate resources and focus on the development of its restaurant business. The proceeds from the sale will be used as general operating funds for the Group.