On February 26, GLONGHUI | Rongzhong Finance (03963.HK) announced that on February 26, 2024, the company entered into a sales agreement. According to this, the company conditionally agreed to sell, and Higashi conditionally agreed to acquire 49 shares of Hongtian Venture Capital (accounting for 49% of the total issued share capital of Hongtian Venture Capital on the date of this announcement). The total cost of the sale was HK$6,000.
Hongtian Venture Capital is an investment holding company and a direct wholly-owned subsidiary of the company. As of the date of this announcement, Hongtian Venture Capital has not carried out any business and does not own any assets other than the nominal share capital of $100.
On the same day, the company, Hiya and Hongtian Venture Capital entered into a shareholder agreement on the management and operation of Hongtian Venture Capital after completion of the sale. Hongtian Venture Capital's business shall include, but is not limited to, providing credit management services to money lenders in Hong Kong, including but not limited to (i) carrying out due diligence on customers regarding loans granted and/or financial leasing services provided by money lenders; and (ii) charging service fees for credit management services provided. The parties to the shareholder agreement agree that the existing business, business resources (in any form), customers, users and future business opportunities that have been generated by Hongtian Venture Capital itself belong to Hongtian Venture Capital.