Zhuguang Holdings Group Company Limited (stock code: 1176) announced that on 28 November 2025, its wholly-owned subsidiary Splendid Reach Limited (the Vendor) entered into a sale and purchase agreement with Rong De Investments Limited (the Purchaser), a controlling shareholder of Zhuguang Holdings, to dispose of approximately 29.50% equity interest in Silver Grant International Holdings Group Limited (stock code: 171). The agreed consideration of HK$81,586,802.64 (or HK$0.12 per share) will be settled via offsetting an existing loan owed by Zhuguang Holdings, resulting in the Group ceasing to hold any stake in Silver Grant upon completion.

Under the listing rules, this transaction constitutes both a discloseable transaction and a connected transaction. It is therefore subject to notification, announcement, and independent shareholders’ approval. The Independent Board Committee, comprising all independent non-executive directors, has been formed to advise on the disposal, and an independent financial adviser has been appointed. Pending satisfaction or waiver of the relevant conditions, the proposed disposal remains subject to approval, and there is no certainty that it will proceed.

Zhuguang Holdings reported that its expected unaudited loss from the disposal is approximately HK$289 million, subject to final audit. The company stated the disposal aligns with its plan to concentrate on core property-related operations, while settling the loan improves its balance sheet by removing interest-free, on-demand debt. The special general meeting to consider the disposal is planned on or before 19 December 2025.