Huaxin Handbags International Holdings (02683) announced that on March 25, 2024, the company's indirect wholly-owned subsidiary will reach a cash collection...
According to the Zhitong Finance App, Huaxin Handbags International Holdings (02683) announced that on March 25, 2024, the company's indirect wholly-owned subsidiary Dajin Group Co., Ltd. plans to acquire the property from Ms. Ma Lanxiang, executive director of the department and Mrs. Chen Chanjuan, the spouse of Mr. Ma Qingwen, an industrial building located in Room 9, 6th Floor, Huayao Industrial Center, 30-32 Au Pui Wan Street, Shatin, New Territories, Hong Kong at a cost of HK$4.7 million. The cost will be paid in cash in two instalments and is expected to be paid from within the Group's internal resources.
The Board believes that the acquisition will ensure the Group's continued use of the property and improve the Group's operating cash flow in the long term by eliminating rental expenses for continuing to rent properties. Through the acquisition of the property, the Group can also enjoy potential capital appreciation in the future and mitigate the risk of future increases in the Group's expenses.