Wai Yuen Tong (00897) subsidiary sells Shenzhen property for 99.8 million yuan.

WAI YUEN TONG (00897) and WANG ON GROUP (01222) jointly announced that on July 16, 2026, the seller (an indirect wholly-owned subsidiary of WAI YUEN TONG) and the buyer Shenzhen Hongqing Industrial Development Co., Ltd. entered into a sale and purchase agreement. The seller conditionally agreed to sell, and the buyer conditionally agreed to purchase all the issued share capital of the target company Crown Honor (Shenzhen) Trading Development. The consideration for the sale of the target company is RMB 99.8 million (equivalent to approximately HK$115 million). Upon completion of the sale, Hong An Group and WAI YUEN TONG Group will no longer hold any shares in the target company. The target company is the registered, statutory, and beneficial owner of the property, which includes a land area of approximately 11,026.83 square meters (118,691 square feet) with the land plot number G12204-0252; and a factory building and two dormitory buildings. The property is located at No. 6, 1st Road, Da Industrial Zone, Pingshan Street, Pingshan District, Shenzhen. As estimated by an independent valuer, as of May 31, 2026, the preliminary indicative valuation of the property is approximately RMB 99.3 million (equivalent to approximately HK$114.86 million). The property includes properties, factory buildings, and equipment of WAI YUEN TONG Group and Hong An Group. The board of directors of Hong An and WAI YUEN TONG believe that the sale will help to better utilize the resources of both groups. Considering the current financial position and business operations of both groups, the boards believe that the sale provides a good opportunity to realize the value of the property at a reasonable price. The proceeds from the sale will improve the financial position of WAI YUEN TONG Group and Hong An Group and increase general operating funds.