Xiang Ying, Lan Shili, Shan Chuanlong and Li Chao entered into conditional sale and purchase agreement to acquire Sinofortune Financial Holdings Limited from Sinofortune Financial Holdings Limited for HKD 8.3 million.

Xiang Ying, Lan Shili, Shan Chuanlong and Li Chao entered into conditional sale and purchase agreement to acquire Sinofortune Financial Holdings (BVI) Limited from Sinofortune Financial Holdings Limited (SEHK:8123) for HKD 8.3 million on July 9, 2024. As part of the agreement, Xiang Ying, Lan Shili, Shan Chuanlong and Li Chao will acquire 34%, 33%, 23% and 10% respectively in Sinofortune Financial Holdings (BVI) Limited. The transaction will be completed in two tranches.

The 1st Completion took place simultaneously upon the signing of the Agreement. The 2nd Completion shall take place on the next Business Day forth upon fulfilling the conditions. The consideration consists of HKD 8.3 million in cash, being part payment of the Consideration, has been paid by the Purchasers at the 1st Completion.

the balance of the Consideration, being the sum of HKD 4 million shall be paid by the Purchasers at the 2nd Completion. The board of directors of Sinofortune Financial Holdings Limited has approved the transaction.