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Road King Infrastructure ( (HK:1098) ) has issued an announcement.
Road King Infrastructure has agreed to dispose of its entire 65% stake in Shanghai Junxin Property Co., Ltd., alongside a co-vendor’s 15% interest, for a total of about RMB116.4 million, of which RMB94.4 million is attributable to the group. The target company, which holds land use rights and has completed and delivered all residential units of its Shanghai project, will cease to be a subsidiary and will no longer be consolidated into the group’s financial statements, marking a further portfolio rationalisation under Hong Kong’s discloseable transaction rules.
The deal, classified as a discloseable transaction under Hong Kong listing regulations, reflects Road King’s ongoing streamlining of its China property exposure following the fulfilment of agreed exit conditions for the project. With the buyer and co-vendor confirmed as independent third parties, the transaction crystallises value from a largely completed development and may help the group reallocate capital and reduce balance-sheet exposure to a mature asset in a challenging mainland property market.
More about Road King Infrastructure
Road King Infrastructure Limited is a Bermuda-incorporated company listed in Hong Kong that operates through subsidiaries in mainland China’s property and infrastructure sector. Its group structure includes indirect wholly owned and non-wholly owned units engaged in property development projects, including residential units, car parks and self-held apartments in Shanghai and other PRC locations.
Average Trading Volume: 217,557
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$472.1M
Find detailed analytics on 1098 stock on TipRanks’ Stock Analysis page.