CHEVALIER INT'L (00025.HK) announced that its indirectly wholly-owned subsidiary OR4 Laurelhurst sold transferred Assets to the USA retirement home operator SE Stark for a total price of 35 million USD (approximately 0.273 billion HKD), with expected revenue of about 13.32 million USD (approximately 0.104 billion HKD). The net proceeds from the sale are intended for the group's general operating funds.

The transferred Assets are the real estate and permanent ownership of adjacent properties located at Laurelhurst Village, 3060 SE Stark St., Portland, OR 97214, U.S.

The group believes that considering numerous factors, including but not limited to local economy and population distribution, market supply and demand for elderly care services, the growth potential and current actual condition of the transferred Assets, it has decided to sell the transferred Assets and reallocate resources to other investments.