RENZE HARVEST (01282) subsidiary intends to sell Hong Kong property for HK$46.563 million

RENZE HARVEST (01282) announces that on 25 September 2026, the seller, Chaorong Investment Limited (an indirectly wholly-owned subsidiary of the Company), entered into an agreement with the buyer, Grand Dahlia Limited, pursuant to which the seller agreed to sell and the buyer agreed to purchase the property at a total consideration of approximately HK$46.563 million. The property is located at Room 1909, 19th Floor, Tower 2, LIPPO Centre, 89 Queensway, Hong Kong. The property is for commercial use. The Company considers that the downturn in the Hong Kong property market (particularly the commercial and industrial property sector) will be difficult to recover in the short term. In view of the current market environment, the Company believes that the disposal represents a good opportunity to realise part of its assets to improve its liquidity position. The terms of the disposal were arrived at after arm's length negotiations and after extensively seeking interested buyers willing to offer a reasonably acceptable consideration. The Company intends to apply the net proceeds from the disposal to repay the Group's existing debts, thereby reducing the Group's finance costs and improving its overall financial position, which is in the overall interests of the Company and all shareholders.