On June 13th, Gelunhui reported that in June 13th, 2024, the seller Suremark Holdings Limited (a wholly-owned subsidiary of the company) and the buyer Xiwei International Limited signed a purchase agreement. Accordingly, the seller agrees to sell and the buyer agrees to purchase the shares for sale (which accounts for all the equity of Silly Thing Group Limited), for a price of HKD 9.5 million.

The target group is mainly engaged in the magazine publishing business, including the publication of automotive magazines and Milk magazines in Hong Kong, as well as providing event management, advertising services and digital media services.

The sale is a strategic opportunity to simplify the group's organizational structure and streamline its business operations. This move is consistent with the company's goals and plans, allowing for a more centralized allocation of internal resources. This strategic initiative is expected to improve the group's financial performance.

Through this sale, the group is expected to benefit from a reduction in liabilities and interest expenses, which may put the group in a more favorable position for future financing and potentially obtaining more favorable credit ratings and financing terms, as well as enhancing the confidence of investors and shareholders.