According to the Zhitong Finance App, Qian Tang Holdings (01466) issued an announcement. All the prerequisites contained in the sales agreement have been fulfilled and completed in accordance with the terms and conditions of the sales agreement as of February 9, 2024. After completion, the company indirectly owns all of the target company's issued share capital. As a result, the target company has become an indirect wholly-owned subsidiary of the company, and the target group's financial results will be consolidated in the group's financial statements.

According to the sale agreement, the company has allotted and issued 39.954 million shares of consideration to the seller at the issue price of HK$0.2628 per share; and has issued HK$31.5 million convertible bonds to the seller, giving the seller the right to convert HK$0.2628 per share (subject to adjustment) to a maximum of 120 million shares at the exchange price to cover the cost of the acquisition.