CHINA NEW HLDGS (08125) subsidiary intends to sell all the equity of Rende Construction Equipment.

CHINA NEW HLDGS (08125) announced that on March 17, 2026, the seller (Ren De Investment Group Limited, a subsidiary of the company) intends to sell all issued share capital of its subsidiary company (Ren De Building Equipment Limited) to the buyer, Mr. Liu Xiaoxun, for a cash consideration of one Hong Kong dollar. The subsidiary company being sold is registered in Hong Kong, and as of the date of the agreement, the seller beneficially owns 100% of the equity interest in the company, which is primarily engaged in leasing construction equipment and providing related installation services. The board of directors believes that the sale presents an opportunity for the group to streamline its operational structure and reallocate resources to other existing opportunities. After considering the financial performance of the subsidiary company and reviewing its business and operational conditions, the board of directors deems the sale to be a prudent move for the group.