CHEVALIER INTL(00025) intends to sell the Canadian Jaguar Land Rover dealership business and related assets and properties.

CHEVALIER INT'L (00025) issued a notice stating that on November 12, 2025, the seller (all of which are indirect wholly-owned subsidiaries of the company) and the buyer (001343586 Ontario Inc., 1001329259 Ontario Inc.) entered into an asset purchase agreement. The seller conditionally agreed to sell the business, along with the related assets and properties, for a certain price. It is reported that the business involves the sale and leasing of new and used OEM cars, providing repair and maintenance services for OEM cars, selling OEM car parts, and operating all appropriate car accessories. In recent years, the Canadian automotive industry has faced significant challenges, including rising interest rates and increasing new car costs, which have dampened consumer willingness to purchase new cars. As a result, the business has incurred pre-tax and after-tax net losses in the past two fiscal years, which have been further exacerbated by the global trade war. With the momentum of consolidation in the Canadian car retail market growing, the board decided to exit the Chevalier car dealership market and list the business (along with its related assets and properties) for sale. However, without receiving any committed purchase offers, the decision was made to ultimately close the business to alleviate further losses. During this closure process, the buyer expressed interest in acquiring the business. The buyer (a group already engaged in the car dealership business in Ontario, Canada) expressed interest in continuing to operate the business on the related properties or operating the Chevalier car dealership business. Therefore, the board sees this sale as a strategic opportunity to sell the business along with its related assets and properties to an independent third-party buyer, in order to reduce losses and release or realize the investment value of the company's assets. After the sale is completed, the company will cease operations of the business in Canada.