Sinofortune Fin (08123) announced that after trading hours on July 9, 2024, the company and the buyer (four Chinese citizens) signed the agreement. Accordingly, the company agreed to sell and the buyer agreed to purchase all the issued shares of the target company Sinofortune Financial Holdings (BVI) Limited at a price.
Sinofortune Fin (08123) announced that after trading hours on July 9, 2024, the company and the buyer (four Chinese citizens) signed the agreement. Accordingly, the company agreed to sell and the buyer agreed to purchase all the issued shares of the target company Sinofortune Financial Holdings (BVI) Limited at a price.
In view of the fact that the business performance of the target group has not been ideal and has been operating at a loss over the past few years, and the comprehensive financial statements of the target group for the year ended December 31, 2023, which have not been audited, show a profit solely due to the exemption of the intercompany loans payable by the target company to the company, the directors believe that the sale of the business with no profit potential is an opportunity for the company to differentiate and reallocate its resources to other divisions of the group in order to improve the company's performance.
