Be Friends Holding to sell Century Sage stake

Be Friends Holding Limited announced plans to sell its 100% equity interest in Century Sage Scientific International Limited, to Winner Team Limited for a consideration of HKD2.76 million. The transaction, classified as a major one under Listing Rules, requires shareholder approval. An Extraordinary General Meeting (EGM) is scheduled for June 16, 2025, to seek this approval. Upon completion of the disposal, Century Sage will cease to be a subsidiary of Be Friends Holding. The company intends to use net proceeds to supplement general working capital. The disposal is expected to result in a gain of RMB1.68 million, subject to audit. The Board considers the disposal to be on normal commercial terms, fair, reasonable and in the interests of shareholders as a whole.