HUASHENG INTL announced on December 13, 2024, that its wholly-owned subsidiary, Golden Star Group Holdings Limited, has subscribed to convertible bonds issued by Saveur Limited, amounting to 40 million HKD. The bonds have an annual interest rate of 8%, with a term of 4 years, personally guaranteed by Mr. Ye Jun Da, the sole Shareholder of Saveur Limited, and secured by company Assets. The proceeds from the subscription will be used exclusively for Saveur Limited's procurement of new inventory.This subscription constitutes a disclosable Trade for HUASHENG INTL, with the applicable percentage rate exceeding 5% but below 25%. The company stated that this move aims to diversify its investment portfolio, obtain stable interest income, and provide an opportunity to enter the wine and whiskey industry...Show More

HUASHENG INTL announced on December 13, 2024, that its wholly-owned subsidiary, Golden Star Group Holdings Limited, has subscribed to convertible bonds issued by Saveur Limited, amounting to 40 million HKD. The bonds have an annual interest rate of 8%, with a term of 4 years, personally guaranteed by Mr. Ye Jun Da, the sole Shareholder of Saveur Limited, and secured by company Assets. The proceeds from the subscription will be used exclusively for Saveur Limited's procurement of new inventory.This subscription constitutes a disclosable Trade for HUASHENG INTL, with the applicable percentage rate exceeding 5% but below 25%. The company stated that this move aims to diversify its investment portfolio, obtain stable interest income, and provide an opportunity to enter the wine and whiskey industry. The Board of Directors believes that, given Hong Kong's status as a hub for wine trade in Asia and the growth prospects of the Global wine and Spirit market, this investment aligns with the overall interests of the company and its Shareholders.Saveur Limited mainly engages in the sale of wine, whiskey, tea, and luxury collectibles. As of March 31, 2024, the company's unaudited revenue is approximately 0.164 billion HKD, with a post-tax profit of about 4.85 million HKD. HUASHENG INTL anticipates that with the reduction of Spirit tariffs in Hong Kong and the increase in Spirit consumption in Asia, this investment will bring good returns to the company.