FINET GROUP (08317) subsidiary intends to acquire a Hong Kong property for HK$5.3 million.

FINET GROUP (08317) announced that on 24 September 2026, the Company's indirectly wholly-owned subsidiary, Finet Finance Limited (the purchaser), and Xintai Investment Limited (the vendor) entered into an agreement to acquire the property for HK$5.3 million. The property is Flat A, 11th Floor, Island Building, 439445 Hennessy Road, Hong Kong. The Directors (including the independent non-executive Directors) consider that the terms of the agreement were arrived at after fair negotiation, were entered into on normal commercial terms, are fair and reasonable, and that the acquisition is in the overall interests of the Company and its shareholders, based on the following reasons: 1. Prime strategic location and asset value: The property is located on Hennessy Road in Wan Chai, one of Hong Kong's most resilient and mature commercial and residential hubs, which ensures superior asset downside protection. 2. Portfolio expansion and diversification: The acquisition of a residential asset directly aligns with the Group's existing strategy to diversify its long-term property investment portfolio and capture a stable capital preservation tool. 3. Ideal valuation window and market trends: Current real estate data show a clear stabilisation trend and macro upside potential. Entering the market at this pricing curve provides a rare window of opportunity for long-term equity appreciation. 4. High liquidity and stable income potential: Due to strong demand for residential units in Wan Chai, the property has high rental capability and is easy to lease, offering the prospect of immediate stable and recurring rental income. 5. Fairly negotiated valuation: The consideration was determined after fair negotiation on normal commercial terms and is fair and reasonable, as it is highly comparable to recent transaction prices of similar units in Island Building.