EG LEASING (00379) intends to sell a property in Minhang District, Shanghai for approximately 6.918 million yuan.

EG LEASING (00379) announced that on September 20, 2024, the seller (an indirect wholly-owned subsidiary of the company) entered into an agreement with the buyer Shanghai Beiaolu Biomedical Materials. The seller agreed to sell and the buyer agreed to purchase a property, for a total price of RMB 6.918 million (equivalent to approximately HKD 7.604 million). The property is located at Room 203, Building 6, No. 188 Xinjunhuan Road, Minhang District, Shanghai, China, with a building area of approximately 768.67 square meters. The property is intended for industrial use. Taking into account the Group's current financial situation, future cash flow needs, and the prospects of the Chinese real estate market, the directors believe that the sale is a good opportunity for the company to realize the value of the property at a reasonable price. The proceeds from the sale will improve the Group's financial position and increase its general operating funds.