Golden Orange News on October 28th | Lijun Group (08360.HK) announced that on October 28, 2024, the company's wholly-owned subsidiary Sunny Stage Limited ("Potential Buyer") signed a non-legally binding memorandum of understanding with Mega Capital Limited ("Potential Seller"), under which the Potential Buyer intends to acquire and the Potential Seller intends to sell all the issued shares of Mr. Fadai Financial Limited ("Target Company").
The Target Company is a limited company registered in Hong Kong, mainly engaged in lending business in Hong Kong. It holds a money lender's license under the Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong). The range of lending services provided by the Target Company generally includes corporate or personal loans. The Target Company holds collateral (such as valuable watches) for secured loans.
The company has been reviewing its business and actively seeking potential business and investment opportunities to expand and/or diversify the group's business portfolio and sources of income, thereby adding impetus to the group's business growth. The board of directors believes that the potential acquisition (if completed) will broaden sources of income and enhance the group's financial performance, thereby maximizing the overall interests of the company and its shareholders.
