Zhitong Finance App News, Wei Yuantang (00897) and WANG ON GROUP (01222) jointly announced that on July 16, 2026, the seller (an indirect wholly-owned subsidiary of Weiyuantang) and the buyer Shenzhen Hongqing Industrial Development signed a sales agreement. The seller conditionally agreed to sell, and the buyer conditionally agreed to purchase the entire issued share capital of Guanzun (Shenzhen) Trading Development, the target company holding the property. The target company's sale was worth RMB 99.8 million (equivalent to approximately HK$115 million). After the sale is completed, Hongan Group and Wai Yuantang Group will no longer hold any shares in the target company.
The target company is the registered, legal and beneficial owner of the property. The property includes a plot of land with a site area of approximately 11,026.83 square meters (118,691 square feet), with lot number G12204-0252; a factory building and two dormitory buildings. The property is located at No. 6, No. 1 Road, Dagongye Zone, Pingshan Street, Pingshan Street, Pingshan District, Shenzhen. According to estimates by independent valuers, the preliminary indicative valuation of the property on May 31, 2026 was approximately RMB 99.3 million (equivalent to approximately HK$114.86 million).
The property includes the property, plant and equipment of Wai Yuen Tong Group and Hongan Group. The board of directors of Hongan and the board of directors of Wai Yuen Tong believe that the sale will help make more effective use of the resources of Weiyuantang Group and Hongan Group. After considering the current financial situation and business operations of Wai Yuen Tong Group and Wai Yuen Tong Group, the board of directors of Hongan and the board of directors of Wai Yuen Tong believe that the sale is a good opportunity for the company to realize the value of the property at a reasonable price. Proceeds from the sale will improve the financial position of Wai Yuen Tong Group and Hongan Group and increase the general working capital.