HING YIP HLDGS (00132) announced that on September 30, 2025, the company's subsidiary Tiannuo Investment entered into an equity transfer agreement with Hongda Minbao. Under the agreement, Tiannuo Investment has agreed to sell its 31% stake in Guangdong Nanhong Minbao Co., Ltd. to Hongda Minbao for a consideration of approximately RMB 106 million.

The target company is primarily engaged in the production and sales of civilian explosive products. Prior to the disposal, the entire equity of the target company was held by Tiannuo Investment.

According to the announcement, the disposal will help expand the target company's equity base and gain support from Hongda Minbao to fully unleash the target company's civilian explosive production capacity. Specifically, the target company will leverage Hongda Minbao's industry influence and its capability to underwrite the target company's products to expand existing sales channels.

The disposal will also help optimize the company's asset structure and enhance overall profitability. The proceeds from the disposal will be used to supplement the company's general working capital, which aligns with the company's overall development interests.