KAM HING INT'L (02307) intends to acquire the entire equity of a Vietnamese textile company for 10.8 million US dollars.

KAM HING INT'L (02307) announced that on December 27, 2024, four independent third parties (as sellers) signed a Memorandum of Understanding with the company's wholly-owned subsidiary, Jin Feng (Hong Kong) Garment Co., Ltd. (as buyer) to propose the acquisition of all shares of a Vietnamese company. The total cost of the proposed acquisition is $10.8 million. The target company is primarily engaged in the textile manufacturing business and owns a well-equipped knitting and dyeing factory in Vietnam. The proposed acquisition involves an existing production base with related resources, including ready-to-use factory facilities and labor, which will immediately strengthen the group's textile manufacturing capacity without the need for additional capital investment. Developing a self-owned production base using the group's years of production experience and technology can bring greater efficiency to production in Vietnam. The proposed acquisition also aligns with the group's business expansion plans, particularly in establishing a comprehensive textile and garment production base in Southeast Asia and enhancing the group's existing operations in Southeast Asia.