SOCAM DEV plans to sell Ruian Property Management Services Limited for HKD 100 million
SOCAM DEV announced plans to sell the entire equity of its wholly-owned subsidiary, SOCAM Property Management Services Limited, for HKD 100 million, with expected net proceeds of approximately HKD 47 million. The sale aims to realize the intrinsic value of the target group and reallocate funds to more synergistic businesses
According to the Zhitong Finance APP, SOCAM DEV (00983) announced that on September 8, 2025, the company's wholly-owned subsidiary, Langjia Limited, intends to sell all issued share capital of Ruian Property Management Services Limited to Wuhan Yujing Investment Management Co., Ltd. for a consideration of HKD 100 million (subject to adjustment). The group expects to achieve a net gain of approximately HKD 47 million from the sale.
It is reported that the target group mainly engages in property management services in Hong Kong.
Considering that the scale, clients, and capital needs of the target group are significantly different from the group's main business line, its continued retention diverts management's attention and the group's core business resources. Therefore, the timing of the sale is appropriate, allowing the group to realize the intrinsic value of the target group, achieve investment returns, and reallocate the proceeds to businesses and projects that are expected to yield higher capital returns and have greater synergy with the group's existing business and asset base
