TOP FORM INT'L (00333) plans to sell all the shares of Shenzhen Delis Underwear Co., Ltd. to Shenfang.

TOP FORM INT'L (00333) has announced that the company is in discussions with Shenzhen Textile (Group) Co., Ltd. (Shenzhen Textile) regarding the sale of its 70% and 30% shares in Shenzhen Delices Lingerie Co., Ltd. (the target company), which represents the entire equity of the target company. The target company is a subsidiary of the company and holds several industrial and residential properties located in the Bagua Ridge Industrial Zone, Futian District, Shenzhen, China. The main business of the target company is property investment and providing consulting services related to women's lingerie and accessories. According to Shenzhen Textile, the potential sale would constitute the transfer of state-owned assets as Shenzhen Textile is a state-owned enterprise. In accordance with relevant laws and regulations regarding the transfer of state-owned assets in China, the potential sale must be conducted through public bidding via the Shenzhen United Property Exchange. To gauge the market's initial response to the potential sale and identify potential buyers, the company and Shenzhen Textile will issue an intention solicitation announcement through the Shenzhen United Property Exchange on September 3, 2026, with a public solicitation period lasting twelve months from the date of the announcement.