According to the announcement from the Zhitong Finance APP, Asia Grocery (08413) announced that on November 29, 2024, after the trading session, the seller Hung Fai Ho Group Limited (a wholly-owned subsidiary of the company) entered into a sales and purchase agreement with the buyer. Under this agreement, the seller has agreed to sell and the buyer has agreed to purchase the shares (namely all the issued share capital of the company Gao Shi Food Limited) for a price of 1.5 million Hong Kong dollars.

The announcement stated that the board of directors believes that the sale can help the company monetize its assets, with the proceeds from the sale being used for the group's general operating funds. As a result, it is expected that the sale will reduce the group's capital-to-liabilities ratio and improve the operating funds. The sale will strengthen the group's financial condition and increase cash flow. The board of directors believes that through the sale, the company will be able to more effectively allocate its resources.