GLOBAL UIN (08496) intends to sell all shares of AA International Holdings for 420,000 Hong Kong dollars.

GLOBAL UIN (08496) announced on November 11, 2024, that the seller (i.e. the company) entered into an agreement with the buyer Gaojie, whereby the seller agreed to sell and the buyer agreed to purchase the sale shares (representing 100% of the issued shares of AA International Holdings Limited) at a price of HK$420,000. After the completion of the sale, the target company will no longer be a subsidiary of the seller, and the financial performance of the target company will no longer be consolidated into the group's comprehensive financial statements. The announcement stated that, considering the financial performance of the target company's subsidiaries and after reviewing their business and operating conditions, taking into account factors such as the increasingly competitive Chinese catering business market, changing consumer preferences, the impact of macroeconomic conditions, and the net liability position of the target company, the board of directors believes that the sale is appropriate. The board of directors believes that the sale will allow the group to realize its investment in the target company and generate profits. Through the profit gained from the sale, the group will be able to reallocate resources for other business opportunities.