Cornerstone Finance (08112) issued an announcement. On January 10, 2024 (after the trading session), the company and buyer L...
Zhitong Finance App News, Cornerstone Finance (08112) issued an announcement. On January 10, 2024 (after the trading period), the company signed an agreement with the buyer Liu Daochun. According to this, the company has agreed to sell and the buyer has agreed to purchase sales shares (1% of the issued share capital of the target company Handerland Development Investment Holdings Limited) at a cost of HK$6.6 million. Upon completion, the Group will no longer have any interest in the target company.
According to the announcement, investing in different industries with potential for growth in order to diversify its business is the Group's strategy. However, due to the recent growing complexity of the global economy and politics and fluctuations in the market environment, the operating and financial situation is uncertain. In particular, the Group's financial services business has been affected by weak investment sentiment and the volatile financial market under current market conditions and increasingly severe business conditions. The company believes it is appropriate to adjust the Group's business strategy in this context.