FAR INTL (02516) intends to acquire at least 60% of the equity of Kuai Shun Investment.

FAR INTL (02516) announced that on March 7, 2025 (after trading hours), the company (as the potential buyer), Soon Chang Express Holdings Limited (as the potential seller) ("potential seller"), and Express Growth Investments Limited (as the target company) ("target company") (collectively referred to as the "contracting parties") have signed a non-legally binding Memorandum of Understanding regarding the company's proposed acquisition of not less than 60% equity interest of the target company (currently 100% owned by the potential seller). It is reported that the target company is a limited company registered in the British Virgin Islands, providing logistics services in Hong Kong, including transportation and distribution of various goods and products in Hong Kong, including fast-moving consumer goods and designer products; and providing auxiliary temporary labor services in Hong Kong, including shelf and pallet handling services in customer distribution centers. The announcement stated that the proposed acquisition will enhance the group's comprehensive service capabilities in the logistics sector. The target company is a logistics company based in Hong Kong. Through integrating the target company's mature resources and experience in local logistics distribution and auxiliary temporary labor services in Hong Kong, the group will be able to deepen its business connections between the Greater Bay Area and mainland Chinese cities, enhance regional market penetration and customer service coverage. In addition, the synergies between the target company and the group's operations will promote operational efficiency and cost optimization, further consolidating the group's competitive advantage in the cross-border logistics sector.