On June 24, Glorious Group (01172.HK) announced that on June 21, 2024, the seller (Guangzhou Rongtai Investment Consulting Services Co., Ltd., a wholly-owned subsidiary of the company) and the buyer (Madden Zheng, a Chinese citizen) respectively entered into a property sales agreement.

The target property is located at Room 3801, 3802, 3803, and 3807, 38th Floor, Prosper Center, No. 16 Huaxia Road, Tianhe District, Guangzhou, with a total construction area of 726.3 square meters for office use, and the total price is RMB 25,565,760. The directors believe that the sale is a good opportunity for the company to obtain funds and increase cash flow.