DRAGON KING GP (08493) announced that on November 25, 2025, its wholly-owned subsidiary, Chi Long International Group Limited, entered into a sale and purchase agreement with Townfield Limited. Under the agreement, the buyer conditionally agreed to acquire the sale shares and assume the sales loan, while the seller conditionally agreed to sell the shares and transfer the loan for a total cash consideration of HK$4.5678 million.
As of September 30, 2005, the target company, Focus Aim Investments Limited, had a net liability of approximately HK$7.6 million. By the announcement date, the target company owed the seller a loan of around HK$8.31 million. As part of the agreement, the target company will undergo loan capitalization to convert the payable amount to the seller into equity. Upon completion of the loan capitalization, the target company will return to a net asset position.
Post-transaction, the buyer will hold a 55% stake in the target company, making it an indirect non-wholly-owned subsidiary of DRAGON KING GP. The seller, Townfield Limited, is a non-resident domestic company incorporated in the Marshall Islands and operates as an investment holding entity. Its ultimate beneficial owner is Mr. Xu Sheng, an experienced businessman.
Focus Aim Investments Limited is a Hong Kong-registered company primarily engaged in the food and beverage sector under the brand "Sushi Kuu." Since 2007, the company has operated high-end Japanese restaurants in Hong Kong, specializing in fresh and premium Japanese cuisine. The "Sushi Kuu" brand targets discerning customers with high purchasing power and stringent demands for food quality and dining ambiance.
Recently relocated to Hong Kong’s Central business district, the new "Sushi Kuu" outlet spans approximately 1,236 square feet with 36 seats. The upgraded restaurant offers a diverse menu of refined Japanese dishes, including sushi, sashimi, and grilled specialties, while maintaining an elegant, relaxed, and welcoming atmosphere.
Despite reporting strong gross margins, the target company has recorded net losses. After a preliminary assessment of its historical financial performance—particularly its variable cost structure—DRAGON KING GP is confident that implementing a targeted cost optimization plan post-acquisition will significantly enhance profitability. Leveraging the target company’s solid foundation and the group’s experienced management team, "Sushi Kuu" is expected to become a key growth driver for the group.