Oceanic Group (01991.HK)Said that after the market closed yesterday (11th), 100% equity interest in the subsidiary and sales loan were sold at a consideration of 66.9616 million yuan (equivalent to HK $73.6578 million). The subsidiary holds 88 rooms in buildings 2 and 5, Longxi Road, Yalong Bay, Sanya City, Hainan Province, China, with a total floor area of about 7717.55 square meters.

The Company considers that the operating conditions of these properties in 2018 and 2019 are not satisfactory and that the net proceeds from the disposal can also be used to further develop and expand the Group's silicone business and any further business strategy. (sw/k) (the quotation will be delayed by at least 15 minutes.)