Glonghui, August 16 | Qishi International Group (00025.HK) announced that the company has received several proposals from independent third party buyers for the potential acquisition of residential care facilities for the elderly that the group can provide in the US, including self-care, assisted living, mental disability care, and professional care (“Sale Matters”). The Group has not entered into a legally binding agreement or final agreement, and the company's management is currently negotiating a possible sale with an independent third party buyer. The sale must (among others) carry out due diligence on the buyer's behalf and sign and complete a formal sales agreement. If the sale is implemented, it may constitute one or more notifiable transactions under Chapter 14 of the Hong Kong Stock Exchange Limited Securities Listing Rules (the “Listing Rules”).
The board of directors of the company wishes to emphasize that no legally binding agreement on the sale has been concluded as of the date of this announcement. The proposed sale is in line with the Group's business plan to streamline its facilities in residential homes for the elderly in the United States.