Glonghui, March 14, 丨 Aobang Construction (01615.HK) announced that on March 14, 2024, two sellers (both independent third parties) entered into a sales agreement with the buyer (an indirect wholly-owned subsidiary of the company). According to this, the buyer conditionally agreed to acquire all of the issued share capital of the target company Dizhi Capital Co., Ltd. (effective from completion, without any proprietary burden), along with all rights attached, accrued or accrued (including but not limited to any dividends already paid, declared or accrued after completion) The price does not exceed HK$1.9 million.
Once completed, the target company will be wholly owned by the buyer. Therefore, the company will have an interest in the entire issued share capital of the target company through the buyer (an indirect wholly-owned subsidiary of the company). The target company will also become an indirect wholly-owned subsidiary of the company, and its performance will be incorporated into the Group's financial statements.
The target company holds a license from the Securities Regulatory Commission and engages in activities regulated under Type 4 (advising on securities) and Type 9 (asset management) under the Securities and Futures Ordinance. As of the date of the announcement, the target company did not have any subsidiaries.
The acquisition diversified and expanded the Group's business portfolio. By entering Hong Kong's financial services industry, the Group can reduce its dependence on Macau's construction industry and explore new revenue streams. The Group can also benefit from the financial revenue generated by the target company. This will help the Group's overall financial performance and enhance its portfolio. In the context of the Greater Bay Area macroeconomic plan, the acquisition is in line with the strategic goals of regional economic development. By leveraging Hong Kong's status as a financial center and helping the diversified development of Macau's economy, the Group positions it as a diversified enterprise, which can promote the collaborative development of the Greater Bay Area economy and benefit from it.
Furthermore, the Group is committed to sound risk management, internal control and corporate governance practices, which are in line with the vision of a stable and regulated financial environment in the Greater Bay Area. Strategic diversification will reinforce the Group's competitive advantage and market position. Therefore, as a strategic initiative of a construction company group based in Macau, the acquisition can enhance the Group's competitiveness and market position, and ultimately position the Group for long-term success and sustainable development.