Opinion Real Estate Network News:December 31stTak Cheung Real Estate Group Co., Ltd.It announced the completion of major transactions relating to the sale of Jianyi Co., Ltd. and Elysee Hotels Co., Ltd. (formerly known as Perry Shangpin Hotel Co., Ltd.).

As a result, Tak Xiang Properties no longer has any interest in the disposal Group. Sale of the Group's assets; andBe in debtIt will no longer be incorporated into the company's consolidated financial statements and the Group will cease to recognize the gains and losses of the disposal of the Group.

According to the opinion Real Estate New Media, on August 25, 2020, MaxterLimited, an indirect wholly-owned subsidiary of Dexiang property, entered into the agreement as the seller, the buyer Boren Investment Limited and the company as the guarantor of the seller. Accordingly, the seller conditionally agreed to sell the sale shares and the sale loan for a total consideration of HK $460 million.

The sales shares include Sale shares An and Sale shares B, which are the entire issued share capital of Jianyi and Perry Shang Pin at the date and completion of the agreement respectively, and the principal amounts of sales loan An and sales loan B as at 31 July 2020 are approximately HK $126 million and HK $173 million respectively.

Jianyi's main asset is a property located at 7 Moreton Terrace, Causeway Bay, Hong Kong. It is a hotel with 94 rooms and has been leased to Perry Shang Pin. The main business of Perry Shangpin is to operate the property as Polly Style Hotel in Hong Kong.