Xing Ming Holdings (08425) announced that on September 21, 2023 (after the trading session), the buyer Xingming equipment Co., Ltd. (a wholly-owned subsidiary of the company) entered into an agreement with the seller Xuzhou Construction Machinery Group Import and Export Co., Ltd. to acquire machinery (a set of tower cranes) at a consideration of RMB 4.58 million.
The acquisition is part of a capital investment and will help the group expand its tower crane leasing services and meet the growing demand for building construction projects in Hong Kong, the announcement said.