POLYFAIR HLDGS(08532) intends to acquire equity in a target company in Hong Kong that owns construction projects.

POLYFAIR HLDGS (08532) announced that, according to a memorandum of understanding, the buyer, the company's wholly-owned subsidiary Faithful Galaxy Investment Limited, intends to acquire the equity of a target company in Hong Kong with construction projects, while the seller intends to sell the equity. The announcement stated that the group's main subsidiary is a subcontractor in Hong Kong that provides external wall and curtain wall engineering solutions. The group provides design and construction services for projects, including development design, structural calculations, drawing construction drawings, sourcing and purchasing building materials, arranging the logistics and installation of building materials, project management, and post-completion services. The target company is engaged in construction and decoration services. The target company is a successful example of the group's horizontal development, utilizing community resources to establish a network of integrated upstream and downstream related businesses for customers. The main business is providing construction and decoration services for projects for clients such as universities, hospitals, and various institutions (including but not limited to bank projects).