Zhitong Financial App News, Zhihua Group (01842) issued an announcement on matters relating to the sale of Hong Kong properties by Zhihua Manufacturing Co., Ltd., which is an indirect wholly-owned subsidiary of the company. The seller has been exempted from the mortgage and all preconditions under the agreement have been fulfilled, and the sale was completed on September 25, 2023. Once completed, the company will no longer hold any interest in the property.
At the time of completion, the buyer (as lessor) and the seller (as tenant) had entered into a tenancy agreement for the lease of the property for a period of three years from September 25, 2023.