KWUNGS AROMA (01925): Intended redemption of fund equity.

date
24/12/2024
avatar
GMT Eight
KWUNGS AROMA (01925) announces that on December 20, 2024, its indirect wholly-owned subsidiary, Ningbo Kuangshi, has issued a written notice to the fund manager to redeem a portion of its equity in the first fund. The book value of the relevant equity in the first fund under the first redemption transaction is approximately RMB 20.557 million as of June 30, 2024. On December 23, 2024, Ningbo Kuangshi issued another written notice to the fund manager to redeem a portion of its equity in the second fund. The book value of the relevant equity in the second fund under the second redemption transaction is approximately RMB 30.842 million as of June 30, 2024. The estimated redemption proceeds from the first redemption transaction are approximately RMB 21.60 million and the estimated redemption proceeds from the second redemption transaction are approximately RMB 31.281 million. The redemption proceeds are expected to be received within two days after sending the written notice to the fund manager. Previously, on January 2, 2024, the company's indirect wholly-owned subsidiary, Ningbo Kuangshi, subscribed to equity in two funds ("such funds"), namely Zhu Run Happy 18 Private Equity Securities Investment Fund (first fund) and Qiu Ke Hui Ji Hai Le Shan 1 Private Equity Securities Investment Fund (second fund), with a total subscription amount of RMB 100 million. The funds are managed by Shanghai Zhu Run Investment Co., Ltd. (fund manager). The group has held equity in the funds for about a year, and throughout the entire subscription period until the redemption transaction date, the unrealized gains from such fund investments have remained stable. The directors believe that it is important to periodically review the performance and outlook of such funds, and view the redemption of a portion of the equity in such funds as an opportunity to secure unrealized gains and explore other investment opportunities in the market. The group plans to use the redemption proceeds for potential future investments and business opportunities.

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