Lai Sun International (00191) and Lai Sun Dev (00488) jointly announced that on April 8, 2024, Peakflow Profits, a wholly-owned subsidiary of Lai Sun Dev, plans to sell 10% equity of Bayshore Development to Grand Design Development Limited for a preliminary consideration of approximately HKD 1.4216 billion. Based on the preliminary consideration, Lai Sun Group and Lai Sun Development Group are expected to suffer a loss of approximately HKD 155 million each for the sale.

According to the terms of the sale agreement, the sale was completed on May 31, 2024. Therefore, Lai Sun Group and Lai Sun Development Group will no longer hold any equity interest in Bayshore Development.