According to the announcement from Wise Financial News APP, global uin (08496) announced that on November 11, 2024, the seller (i.e. the company) entered into an agreement with the buyer Gao Jie, whereby the seller agreed to sell and the buyer agreed to purchase the sale shares (representing 100% of the issued shares of AA International Holdings Limited), at a price of 0.42 million Hong Kong dollars.

After the completion of the sale, the target company will no longer be a subsidiary of the seller, and the financial performance of the target company will no longer be consolidated into the group's financial statements.

The announcement states that considering the financial performance of the target company's subsidiaries and after reviewing their operations and business conditions, taking into account factors such as the increasingly fierce competition in the Chinese dining market, the continuous change in consumer preferences, the impact of macroeconomic conditions, and the net debt position of the target company, the board of directors believes that the sale is appropriate. The board of directors believes that the sale can allow the group to realize its investment in the target company and generate profits. By obtaining profits from the sale, the group will be able to reallocate resources for other business opportunities.