Gelonghui November 20 | China Information Technology (08178.HK) announced that it plans to sell 100% of the interest in target company Rosy Time for HK$24.5 million. The sale was completed on November 20, 2023 in accordance with the terms of the sale agreement. Upon completion, the target group will no longer be a subsidiary of the company, and the target group's financial information will no longer be integrated into the group's accounts.

According to reports, the main asset of the target company is 100% of Liancheng's shares. It is a company incorporated in Hong Kong and licensed to engage in money lender business in Hong Kong under the Money Lenders Ordinance, Chapter 163 of the Laws of Hong Kong.