c zenith chem (00362) announced that on September 26, 2024, the company's indirectly wholly-owned subsidiary intends to sell to Mr. Chen Hangsheng...
Zhongtong Financial App News, c zenith chem (00362) announced that on September 26, 2024, the company's indirectly wholly-owned subsidiary intends to sell Hong Kong properties to Mr. Chen Hangsheng and Ms. Yang Yufeng for a consideration of 72 million Hong Kong dollars.
It is reported that the property is located at Unit B, Duplex Units 8th and 9th floor of Block 1, South Bay Yuet Yuen, No. 25 South Bay Road, Repulse Bay, Hong Kong, and Carpark Lot Nos. 14 and 15 on the Ground floor. The usable area of the property (excluding parking spaces) and the associated rooftop are approximately 2,914 square feet (equivalent to 270.72 square meters) and 3,999 square feet (equivalent to 371.52 square meters) respectively.
Considering the current property market conditions, the increasingly fierce competition in the Hong Kong property market, the unstable future prospects, and the group's current financial, debt, and working capital situation, the board of directors believes that the sale is a good opportunity for the group to realize the property value at a reasonable price. In addition, the proceeds from the sale will strengthen the group's financial position and increase its general operating funds.