Kingmaker's Subsidiary Agrees to Sell Zhuhai Property for 50 Million Yuan

Stock News

Jun 23

Kingmaker Group has announced a transaction involving one of its subsidiaries. The company's indirect wholly-owned subsidiary, Zhuhai Special Economic Zone Mei Xing Shoes Manufacturing Co., Ltd., has entered into an agreement to sell a property asset. The buyer is Zhuhai Ruiyuan Culture Communication Co., Ltd., and the agreed sale price is 50 million yuan (RMB).

The property involved is located at Zhuhai, Guangdong Province, China. Specifically, it comprises the entire Buildings A, B, and C at No. 1 Cuizhu Street within the Cuizhu Industrial Zone in the Qianshan District. This asset is a factory property located in the Cuizhu Industrial Zone of Zhuhai.

The company's board has stated that this property is considered a non-core asset for the Kingmaker Group. Furthermore, the property is no longer required for the primary operational activities of the group. The board views the sale as presenting a suitable opportunity for the group to realize the value of this asset.

The proceeds from this disposal are expected to be reallocated. The funds will be used to supplement the group's general working capital and to support potential future business development initiatives.

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