Matrix Holdings (01005) intends to sell 34 horses for approximately 2.236 million Australian dollars.

MATRIX HOLDINGS (01005) announced on September 25, 2024 (after trading hours) that the seller, Viribright Racing Pty. Limited (an indirect wholly-owned subsidiary of the Company), has signed a sale and purchase agreement with the buyer to sell the target assets for a total consideration of 2.236 million Australian dollars. The buyer, Domeland Pty. Limited, is considered to be a contact person of Zheng Yongbin, who is a director, chairman, executive director, and controlling shareholder of Domeland Pty. Limited. The target assets consist of 34 horses owned by the seller as of the date of this announcement. The original acquisition cost of the target assets is approximately 5.43 million Australian dollars. The announcement stated that since 2019, the Group has been planning to develop a real estate development project in Da Nang City, Vietnam. However, due to delays in land acquisition and the downturn in the company's core manufacturing business, the company will reduce capital investment in the related development project. Therefore, the company plans to sell the target assets and suspend the horse racing business that was originally intended as part of the development project.