Magnus Concordia Group Limited (HK:1172) has released an update.
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Magnus Concordia Group Limited has announced the sale of a significant property asset, with the transaction classified as a discloseable event under the Listing Rules. The disposal, expected to complete by the end of July 2024, involves four office units in Guangzhou, yielding an estimated RMB 25.3 million for the company’s working capital. Despite the anticipated loss of approximately RMB 5.11 million from the sale, the company asserts that the move will benefit cash flow and shareholder interests.
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