The Zhitong Finance App learned that Yingxing Holdings (01440) rose more than 5%. As of press release, it had risen 5.43% to HK$16.32, with a turnover of HK$4.6056 million.

According to the news, recently, Yingxing Holdings announced that the company plans to sell all of Circle Time's issued share capital and transfer sales loans to Rongwei Investment Co., Ltd. at a cost of HK$58.7 million. As of the date of this announcement, Circle Time held 50% of Xingbai's issued share capital. Xingbai is a joint venture with Asia Partners that is responsible for preparing and operating CR7 Museum HK; and the entire issued share capital of Golden Machine, which operates the product business related to CR7 Museum HK.

The directors believe that the sale will bring the following benefits to the Group: since the costs will be paid off all of the company's shareholders' loans to the buyer, the sale will reduce the Group's debt and overall liabilities without additional cash outflow; in view of the sale Group's current financial situation and operations, the sale will enable the Group to achieve the value of loans receivable that were originally bad under the sales loan; after the sale, the sale of the Group's financial performance, including further losses or liabilities arising from or relating to legal litigation, will no longer be incorporated into the Group's financial statements.

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