MEILLEURHEALTH (02327) plans to sell Australian properties to Executive Director Zhou Wenchuan

MEILLEUREHEALTH (02327) announced that on January 10, 2025, its indirect wholly-owned subsidiary, U-Home Oceania Pty Ltd, intends to sell the property to the company's Executive Director and CEO, Ms. Zhou Wenchuan, for 1.36 million Australian dollars. The property is located at Lot 6, 100 La Trobe Avenue, Alphington, VIC, 3078, Australia. The group is mainly engaged in residential and commercial real estate business. The Australian residential development project will develop 109 townhouse units, which are currently being pre-sold in batches. Ms. Zhou Wenchuan has subscribed to one of the units. The Board believes that the sale will accelerate the realization of the group's land reserves and/or property values, generating additional operating funds to strengthen the group's liquidity and financial position. The company intends to use the net proceeds from the sale to supplement the group's operating funds.