Summary by Moomoo AI
CBK Holdings Limited announced on August 29, 2024 that its wholly-owned subsidiary has signed a share transfer agreement with the buyer, Chen Li, to sell 100% of the shares of the subsidiary at a transaction price of HKD 200,000. The sold company mainly holds the right to use office property assets and lease liabilities and recorded a loss of HKD 1,329,000 for the fiscal year ending March 31, 2024. After the transaction is completed, the sold company will no longer be consolidated into CBK Holdings' consolidated financial statements. According to the GEM Listing Rules, this transaction constitutes a disclosable transaction. CBK Holdings stated that this sale will save costs and reduce future monthly cash outflows, and the proceeds from the sale will be used for the group's general operating funds.