C Zenith Chem (00362.HK) announced that its indirectly wholly-owned subsidiary, Peng Cheng Investment, entered into a provisional purchase agreement with Chen Hangsheng, Yang Yufeng, and Li Jiage Real Estate on September 26 this year. Peng Cheng Investment has agreed to sell Hong Kong Repulse Bay South Bay Block 25 South Bay Imperial Garden Building B (including its rooftop), as well as basement parking spaces 14 and 15, to Chen Hangsheng and Yang Yufeng for a price of 72 million yuan.

C Zenith Chem stated that the above sale is an opportunity for the group to realize the property value at a reasonable price. In addition, the proceeds from the sale will strengthen the group's financial position and increase general operating funds. (js/k)

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