According to the Zhitong Finance App, Cornerstone Technology Holdings (08391) announced that on August 15, 2023, the company plans to sell 100% of the shares of the target company (Jingya Printing Holdings Limited and Jingya Printing Service Holdings Limited) to the buyer Castle Noble International Limited at a total cost of HK$1.00.
The target group is mainly engaged in providing printing, typesetting and translation services in Hong Kong, China. Since the Group's financial printing business has continued to lose money in previous years, and the Group has established an electric vehicle charging business due to uncertain factors in the future of the Hong Kong financial market, the directors believe that the sale will reduce the company's losses and allocate the Group's resources from the underperforming financial printing business to the Group's electric vehicle charging business.