CHINNEY INV's subsidiary plans to sell Oseling Investments, Yingdu, and Baoxuan Hotel (Tsim Sha Tsui)

According to the Zhitong Finance APP, CHINNEY INV (00216) announced that on October 28, 2025, the seller HKL Holdings (BVI) (an indirect non-wholly-owned subsidiary of CHINNEY INV and a direct wholly-owned subsidiary of Han Guo) entered into a provisional sale and purchase agreement with the buyer Xian Jun Management. The seller conditionally agreed to sell and transfer, while the buyer conditionally agreed to purchase and accept the transfer of the sale shares and sale loans. The consideration for the sale shares and sale loans will be the agreed property value of HKD 338 million for the property; and the total net asset value of the target group upon completion. To determine the consideration under the provisional sale and purchase agreement, the net asset value of the target group should exclude the book value of the property, sale loans, any inter-company balances that must be repaid, compensated, replaced, terminated, or otherwise offset or transferred to the seller before completion, and any deferred tax liabilities (if any). As of March 31, 2025, the unaudited consolidated net asset value of the target group was approximately HKD 2.3495 million, including current assets of approximately HKD 3.5068 million and current liabilities of approximately HKD 1.1573 million. Therefore, the estimated consideration will be approximately HKD 340 million.

The target group consists of Oseling Investments, Ying Du, and Bao Xuan Hotel (Tsim Sha Tsui). Oseling Investments is an investment holding company that holds 100% equity in Ying Du and Bao Xuan Hotel (Tsim Sha Tsui), while Ying Du and Bao Xuan Hotel (Tsim Sha Tsui) each hold the property and hotel licenses, respectively.

As of the date of this announcement, Han Guo (a limited company registered in Hong Kong, whose issued shares are listed on the main board of the Stock Exchange (00160)) is directly owned 68.09% by CHINNEY INV