Gelonghui, May 29, 丨 Agile Holdings (00186.HK) announced that on May 29, 2024, the seller Guangzhou Junrong Real Estate Co., Ltd. (an indirect wholly-owned subsidiary of the company) signed the agreement with the buyer Guangzhou Minjun Real Estate Co., Ltd. According to this, the seller conditionally agreed to sell, and the buyer conditionally agreed to purchase the entire share capital of the target company Guangzhou Ruihua Property Development Co., Ltd., at a cost of RMB 12 million.

The target company is mainly engaged in investment holdings. The target company holds 51% of Nanning Ruihua's shares. Nanning Ruihua is a limited company registered and established in China on November 26, 2020, and is mainly engaged in the use rights, property development and operation of state-owned construction land holding this land. The property project for this land is in the pre-sale process, and no property units have been completed and delivered to the final customer. As a result, there is no confirmation of income from the property units in this project. At the same time, Nanning Ruihua has always incurred operating expenses for its daily operations, such as administrative expenses and sales expenses generated during the sales process.

The Board believes that the sale will enable the Group to reallocate its investments in target companies and reallocate financial and other resources to the Group's other businesses. Furthermore, the sale will reduce the capital investment required by the Group to develop the land, thereby reducing the financial and operational risks faced by the Group and freeing up resources for the Group's existing business, including other land development projects.