MEDIA CHINESE (00685) Subsidiary Plans to Sell Canadian Property for 9.9 Million Canadian Dollars

Media Chinese (00685) announced that on March 27, 2026, the company's indirect wholly-owned subsidiary, Ming Pao Holdings (Canada) Limited, as the seller, entered into a purchase agreement with the buyer, Cyclone Range Hoods Inc. Under this agreement, the seller agreed to sell, and the buyer agreed to purchase the property, for a purchase price of CAD 9.9 million. The property includes the land located at 1355 Huntingwood Drive, Toronto, Ontario, Canada (M1S 3J1) and the single-storey industrial building built on it. Since the Group does not have any media operations that require the use of this property, the directors believe that the sale is an opportunity to realize cash from the sale of the Canadian property and reallocate its financial resources to other business needs.