BASIC H NEWLIFE (08360) plans to acquire a Hong Kong property for HK$1.83 million.

BASIC H NEWLIFE (08360) Announcement: On April 21, 2026, Golden Wall Decoration Design Limited (the buyer, an indirect wholly-owned subsidiary of the Company) has entered into a provisional sale and purchase agreement with the seller and agent, regarding the acquisition of a residential property located at 4th floor, 728 Shanghai Street, Kowloon, Hong Kong, for a consideration of HK$1.83 million (based on a practical area of approximately 699.66 square feet, equivalent to approximately HK$2,615.56 per square foot). The property will be sold to the buyer in its existing state. As of the date of this announcement, the property is vacant with no rental or leasing agreements in place. Under the provisional agreement, the buyer is required to pay the consideration as follows: (a) HK$100,000 as an initial deposit upon signing the provisional agreement; (b) HK$83,000 as a further deposit to be paid by April 30, 2026, or upon signing the formal agreement to buy the property; and (c) the remaining balance of HK$1.647 million to be paid by June 23, 2026. The consideration will be funded through internal resources of the group. As disclosed in the company's announcement dated March 23, 2026, the group has allocated more resources for the strategic development of its simple housing business in the new regulatory environment. The directors believe that the acquisition is in line with the group's business development strategy and forms part of its plan to expand its portfolio of simple housing. The company will leverage its mature capabilities to renovate the property to meet the necessary standards for simple housing after the acquisition is completed. The group (as the owner) will then rent out the units to generate stable rental income. Considering the property market conditions at the time, the board of directors believes that the acquisition presents a timely opportunity to acquire the property at a reasonable price. The acquisition will strengthen the group's portfolio of owned, leased, and managed properties, enhancing its operational capabilities and increasing shareholders' long-term value through sustainable business growth.