GREEN ENERGY GP (00979) has completed the sale of all shares of Zhuofu and has also terminated its lending business operations in Hong Kong.

GREEN ENERGY GP (00979) announced on November 18, 2024, that the company has sold its entire equity interest in ZOFU Limited (ZOFU, a limited company registered in Hong Kong and holding a money lender's license in accordance with Chapter 163 of the Hong Kong laws) to a third party independent of the company and its connected persons. The sale does not constitute a connected transaction under the Listing Rules or a transaction requiring disclosure. After the completion of the sale, the financial performance of ZOFU will no longer be consolidated into the group's performance, and the group will cease to operate its money lending business in Hong Kong. Therefore, as the relevant business unit was operated solely by ZOFU within the group before the completion of the sale, the group will cease to include the money lending business unit in the comprehensive financial statements of the company, and the operation of the group's money lending business unit will be classified as discontinued operations. The Board believes that the sale is an opportunity for the group to reallocate its resources from the money lending business to other more profitable business units and/or new projects with higher growth potential. The Board also believes that the discontinuation of the business will not have any significant adverse impact on the group's operations.