HK Stock Market Move | Lai Sun Development (00488) rose more than 12% with plans to sell all equity interests in New Vision Fund, L.P.

LAI SUN DEV (00488) surged over 12%, as of the time of writing, up by 12.28% to 0.64 Hong Kong dollars, with a turnover of 14.7095 million Hong Kong dollars. In terms of news, LAI SUN INT'L (00191) and LAI SUN DEV (00488) jointly announced that on January 12, 2026, the seller (an indirect wholly-owned subsidiary of LAI SUN DEV and an indirect non-wholly-owned subsidiary of Lixin Garment) entered into an agreement with the buyer, under which the seller conditionally agreed to sell, transfer, assign, and deliver; and the buyer conditionally agreed to purchase and acquire all rights, ownership, and interests in the limited partnership interest of the seller in the partnership company (New Vision Fund, L.P) for a purchase price of 14.6354 million US dollars (equivalent to approximately 1.14 billion Hong Kong dollars). Considering that the nature of the relevant investment leads to limited liquidity of the limited partnership interest, and the high volatility of such related investments, which makes it difficult to predict future potential earnings from the limited partnership interest, the board of directors of Lixin Garment and the board of directors of LAI SUN DEV believe that the sale transaction provides an opportunity for the LAI SUN DEV group to exit the relevant investments, realize the investment, strengthen the cash flow of the LAI SUN DEV group, and improve its liquidity situation. The cash inflow will enable the Lixin Garment group and the LAI SUN DEV group to reallocate more financial resources to optimize the capital structure of the Lixin Garment group and the LAI SUN DEV group, and/or for general corporate purposes, while also enhancing the overall cash flow and financial position of Lixin Garment and LAI SUN DEV.