NET-A-GO TECH (01483) plans to sell the entire issued share capital of Kind Access Development Holding Limited for 71.78 million yuan.

NET-A-GO TECH (01483) announced on January 10, 2025 (after trading hours on the Stock Exchange), the company and the buyer Qi Jun Guo entered into a sales agreement, whereby the company conditionally agreed to sell, and the buyer conditionally agreed to purchase the shares for a total price of RMB 71,788,700. The announcement stated that due to fluctuations in market demand and economic uncertainty, the Chinese real estate market is unstable and challenging, making it difficult for the property leasing industry to achieve stable growth or substantial returns; rental returns in the leasing business have been poor, consistently lower than expected, and not aligning with the company's long-term profit goals; and the company's strategic decision is to realize property value and focus resources on its emerging media advertising business division to streamline its business operations, expecting to provide higher growth potential and better align with the company's future direction.