Wai Kee Holdings Limited (HK:0610) has released an update.
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Wai Kee Holdings Limited’s subsidiary, Supreme Gain, is surrendering its participation rights in a property project for an estimated RMB96 million, despite an anticipated net loss of approximately RMB18 million. This strategic decision aims to free up cash for the company’s working capital amid a sluggish Chinese property market. The company views this move as beneficial for its long-term interests and shareholders.
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