I-cable comm (01097.HK) announced on November 5 that on November 5, 2024, the seller (an indirect wholly-owned subsidiary of the company) entered into an agreement with the buyer; whereby, the seller agrees to sell and the buyer agrees to purchase the property for a total price of RMB 21.3 million.

The property is a commercial property located in Yuexiu District, Guangzhou, China, with a total construction area of approximately 2,366 square meters. The Group currently uses the property as its own telephone customer service center. Upon completion, the Group will no longer have any ownership interest in the property.

The operational scale of the telephone customer service center is limited, and the utilization rate of the property has always been low. The director believes that the sale is a good opportunity for the Group to realize the value of the property at a reasonable price, and the net proceeds from the sale will provide immediate cash inflow for general operating purposes.