HANISON (00896) intends to sell the entire share capital of Zhisheng Investment for HK$80 million.

HANISON (00896) announces that on 12 October 2026, the seller, Hanison Construction Holdings (BVI) Limited (a wholly-owned subsidiary of the Company), entered into a sale and purchase agreement with the buyer, Clear Shine International Limited, pursuant to which the seller agreed to sell and the buyer agreed to purchase the sale shares, representing the entire issued share capital of the target, Wisdom Mount Investments Limited . The consideration for the sale is HK$80 million. The sale shares represent the entire issued share capital of the target, which wholly owns the Hong Kong subsidiary, Vast Media International Limited . The Hong Kong subsidiary holds a 49% interest in the PRC company, Haining Jiafeng Real Estate Co., Ltd. , and the PRC company owns the property. The remaining 51% interest in the PRC company is owned by Hongjing Limited , a company incorporated in Hong Kong and wholly owned by the buyer. The property refers to the units in the buildings and premises of Phase 1 of Shangdong Business Center , developed and constructed on the land located on the west side of Wenyuan Road and the south side of Houfuting Port in the urban area of Haining, Zhejiang Province, PRC, including approximately 23,000 square meters of retail units, office units, clubhouse facilities, parking spaces and other ancillary properties, which, as at the date of this announcement, have not yet been sold by the PRC entity. The purpose of the joint venture investment made in the PRC company in 2011 was to develop the project. The project is a large-scale office property development project, including the construction of offices, retail, parking spaces and other development matters relating to the land. The project was developed in phases and was successfully completed in the year ended 31 March 2015. The Group generated revenue throughout the entire project development process by providing project management services, and was able to fully utilize its expertise and resources to participate in the overall planning and development of the large-scale office property project in the PRC. After the completion of Phase 1 of the project in the year ended 31 March 2015, the PRC company had sold 222 units as at 31 March 2026, and as at the date of this announcement, certain units remained unsold. In 2023, the relevant PRC government authorities discussed with the PRC company the repurchase of the remaining unused land of the project, together with other real estate projects held by the buyer's shareholder in nearby locations. Since then, the seller and the buyer have been discussing the potential disposal to be carried out after the transfer and sale of the remaining unused land of the project. In April 2026, the PRC company and the buyer's shareholder received the full purchase price from the relevant PRC government authorities, and the seller and the buyer also began to finalize the terms of the sale and purchase agreement. The Company considers that the sale is an opportunity to unlock and realize the value of its investment in the PRC company, thereby realizing a return on the investment, and enabling the Company to recycle capital into other businesses and investment opportunities, thereby enhancing investor returns.