HK Stock Market Move | SUCCESSUNIVERSE (00487) plunges more than 40%, A-Max recommends that the acquisition of the Grand Waldo Entertainment Complex will not proceed.

SUCCESSUNIVERSE (00487) suffered a drop of over 40%, falling 40.35% to HK$0.068 as of the time of writing, with a turnover of HK$382,100. In terms of news, SUCCESSUNIVERSE announced that, according to a notification from Ponte 16 Property Development and with reference to a voluntary announcement issued by Australia Pacific on November 20, 2025 (after trading hours), Australia Pacific Investment and Ponte 16 Entertainment have mutually agreed to and entered into a termination agreement. As a result, the service agreement will be terminated earlier from November 29, 2025. Therefore, Ponte 16 Entertainment will no longer provide entertainment management services to Australia Pacific Investment at Ponte 16 Entertainment, and Ponte 16 Entertainment will cease operations by the termination date, and the proposed acquisition of Ponte 16 Entertainment by Australia Pacific Investment will not proceed. Despite Ponte 16 Entertainment ceasing operations, the group will continue to operate tourism-related and property investment businesses and continue to invest in the Ponte 16 project. The group's share of the profit from associate companies related to Ponte 16 was about HK$48.5 million for the six months ended June 30 this year, and about HK$112 million for the year ended December 31, 2024. The carrying value of the group's equity in these associate companies was approximately HK$814 million as of June 30 this year, and about HK$766 million as of December 31 last year. Based on a preliminary assessment made by the board of directors with reference to the information available at present, the board of directors expects a significant decrease in the group's share of the performance of these associate companies from the termination date.