GROWN UP GROUP (01842.HK) announced that its wholly-owned subsidiary, Yu Li Gao Development, has entered into an agreement with the successor Nexus Peak Ventures Limited to transfer all rights, interests, and obligations under the cooperation framework agreement for the development of the Cheung Chau NFT theme park project jointly with the partner CCC, at a price of 6.5 million yuan. The net proceeds are approximately 6.47 million yuan, which will be used for general working capital, and the company expects a loss of about 0.612 million yuan from this Trade.

According to the cooperation framework agreement signed by the company and CCC in December 2022, the parties agreed to cooperate in the development of the Cheung Chau NFT theme park project, in which Yu Li Gao Development agreed to and has paid an investment amount of 8 million yuan, with the right to share 10% of the revenue of the Cheung Chau project, with a cooperation period of eight years starting from 2022.