CANOPY SKYFIRE (08245) intends to acquire 70% equity in Maoli Investment for HKD 5.07 million and 100% equity in Asian Link Limited.

CANOPY SKYFIRE (08245) announced that on August 24, 2026 (after trading hours), the buyer, Joy Ultima Holdings Limited (a wholly-owned subsidiary of the Company), entered into an agreement with the seller, Mr. Lui Hon Fai, for the sale and purchase of shares at a total consideration of HKD 5.07 million. The completion of the agreement is subject to certain precedents as outlined in the agreement being satisfied. The shares for sale represent 70% of the issued share capital of Maoli Investment Limited and 100% of the issued share capital of Asian Link Limited. The target company primarily engages in the retail and wholesale of mobile phones and accessories. Upon completion, the target company will respectively become an indirect non-wholly-owned subsidiary and an indirect wholly-owned subsidiary of the Company, thus its financial information will be consolidated into the Group's accounts. The target company conducts its business in the retail and wholesale of mobile phones and accessories through its network in Guanghui Communications. The board of directors believes that this business can complement the Groups existing capabilities in product procurement, trading, supply chain coordination, and sales execution, enabling the Group to leverage its experience in consumer electronics-related products to support the target companys expansion and enhance operational efficiency after the completion. Furthermore, this acquisition can combine the target companys established retail network with the Groups product development and procurement advantages, creating opportunities for cross-selling, expanding the product portfolio, and channel collaboration, thereby enhancing the Group's overall competitiveness and market penetration. The Group has previously derived a significant portion of its revenue from a highly concentrated customer base, and its revenue performance is sensitive to the ordering patterns of these customers. The acquisition allows the Group to access diverse customer groups and demand cycles in the mobile phone and accessories wholesale sector, thereby broadening the Groups revenue sources and reducing reliance on its existing product categories and customer mix. As a result, the board of directors believes that the target company will help establish a more balanced business structure and enhance the Groups resilience in facing fluctuations in individual product categories. The board believes that upon completion of this acquisition, it will (a) bring additional sources of revenue, (b) enhance the Groups overall profitability, and (c) strengthen the Group's business scale in terms of revenue and profit base. The Company also intends to retain the existing core management team of the target company, as the board believes this is crucial for maintaining operational continuity and supporting the future development of the target company.