Huayi Financial Holdings (08123) announced that on February 27, 2024, the company signed a memorandum of understanding with the proposed buyer...
According to Zhitong Finance App, Huayi Financial Holdings (08123) announced that on February 27, 2024, the company signed a memorandum of understanding with the proposed buyer to sell all of Sinofortune Financial Holdings (BVI) Limited's shares and all outstanding shareholder loans (if any) to the proposed buyer. The proposed cost is HK$15.52 million.
According to reports, the selling company is a wholly-owned subsidiary of the company. The selling company has three wholly-owned subsidiaries, namely Huayi Securities, Huayi Financial Financing, and Huayi Asset Management.
Given that the sale of the Group's business performance was less than ideal and continued to make losses, the directors saw the proposed sale as a good opportunity for the Group to sell its unprofitable business and reallocate its resources to other new investments