02183.HK announced that on November 16th, 2021, Longhai Sansheng, an indirect wholly-owned subsidiary of the company, entered into an equity transfer agreement with Beihai Shengli (Purchaser), pursuant to which Longhai Sansheng has agreed to sell and the buyer has agreed to acquire the entire equity interest in the target company, Jiabiao Shopping Mall (Qingdao) Co., Ltd., at a consideration of RMB 271 million.
The main asset of the target company is Qingdao Jiabao Mall, which is located at 152-158 Jiaozhou Road, Shibei District, Qingdao City, Shandong Province, China, with a floor area of 26507.07 square meters. The property is currently used for rental purposes.
The Board considers that the sale is a good opportunity for the company to realize the value of the target assets at a reasonable price, and that the proceeds from the sale will enable the Group to reallocate more financial resources to potential future investment opportunities, or invest into the day-to-day operation and development of the Group as working capital.