CBK Holdings (08428) announced that on September 13, 2024, its wholly-owned subsidiary, Zuo Yu Venture Capital Co., Ltd., intends to sell 100% of the issued share capital of Suda Holdings Limited to Feitu International Trade (Hong Kong) Co., Ltd., at a price of 1.07 million Hong Kong dollars.
According to the announcement, the company sells food processing business in Hong Kong. Considering the financial performance of the sold company, and after reviewing its operations and operating conditions, the board of directors believes that the group is suitable to continue with the sale. The sale will strengthen the group's cash flow, improve its liquidity position, and enable the group to reallocate its resources to develop its restaurant operations.