Heng Tai (00197) plans to sell Shihong Limited to the chairman for HK$54 million.

HENG TAI (00197) announced that on June 30, 2026, its wholly-owned subsidiary Fiorfie Trading Limited intends to sell all of the issued shares of Shi Hong Limited to Mr. Lin Guoxing, Chairman, Executive Director, and CEO of the company, for a total consideration of HK$54 million. On the same day, the company's wholly-owned subsidiary, Shanghai Runxin (as lessee), entered into a sale and leaseback agreement with Shanghai Shifeng Industrial (as lessor). According to the sale and leaseback agreement, Shanghai Shifeng Industrial conditionally agreed to lease the property back to Shanghai Runxin for a period of 3 years from the commencement date, with an annual rent of RMB 5.76 million. As of the date of this announcement, Shanghai Shifeng Industrial is a direct wholly-owned subsidiary of the target company, primarily engaged in investment holding. The property is directly owned by Shanghai Shifeng Industrial and is located at Lane 1-5, No. 1199 Jizhai Road, Minhang District, Shanghai, China, with a building area of approximately 21,820.58 square meters. The property is mainly used as a logistics center for the group's fast-moving consumer goods trading business and the Shenzhen Agricultural Power Group business.