The board of directors of Hopefluent Group Holdings Limited announced that on 29 January 2018, the company entered into a framework agreement with Poly Real Estate Group Co. Ltd. in relation to a proposed joint venture between the company and Poly Real Estate for their respective primary and secondary real estate agency service businesses. Each of the group and Poly Consultancy will transfer its entire primary and secondary real estate agency service businesses to a joint venture company which is expected to be owned as to 55%­60% by the group and as to 40%­45% by Poly Real Estate (or its wholly-owned subsidiary).

The final shareholding structure of the joint venture company will be subject to further negotiations between the parties. In addition, in order to further strengthen the cooperation between the company and Poly Real Estate, the company will allot and issue approximately 36,000,000 new shares of the company to Poly Real Estate (or its nominee) at HKD 4.20 per new share which was determined with reference to the highest prices of the shares in the past twelve months and the intention that Poly Real Estate would own approximately 5% of the entire issued share capital of the company as enlarged by the new Shares. The exact number of new shares to be allotted and issued to Poly Real Estate will be subject to further negotiations between the parties.

The parties will use their best effort to enter into a formal cooperation agreement in relation to the proposed joint venture on or before 31 May 2018.