Major transaction in relation to disposal of property

Summary by 6ix AI

The transaction is classified as a major transaction under the Listing Rules, requiring shareholder approval, although the Hu Family, holding a substantial stake, has already provided written approval. The company expects to realize a gain from this disposal, which will be used to cover taxes, construction costs, and general working capital needs. The disposal aligns with the company's strategy to optimize land use and enhance financial liquidity through the sale of non-core property assets.

Written by 6ix AI from the company’s filing. How 6ix writes summaries