PRECIOUS DRAGON TECH (01861) Subsidiary to Acquire Hong Kong Office Property for HK$40.39 Million

Stock News
01/22

On January 22, 2026, the buyer, Euro-Asia Property Holdings Limited (an indirect wholly-owned subsidiary of the Company), entered into a sale and purchase agreement with the seller, Tianyang Investment Limited, under which the buyer agreed to acquire and the seller agreed to sell the property for a consideration of HK$40.3888 million. The property refers to an office located in the China Merchants Tower in Sheung Wan, Hong Kong, with the address being Office No. 2, 19th Floor, China Merchants Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong. This property is a commercial premises with a gross floor area of approximately 2,676 square feet. Considering that the prices in the surrounding real estate market are relatively low, and the acquisition will provide the Company with additional operational space without incurring future rental expenses, the Board of Directors believes the acquisition presents a favorable investment opportunity for the Group. Furthermore, as the property is intended for the Group's own office use, the Board considers that the acquisition will meet the growing demand for office space resulting from the expansion and development needs of the business. The Board is confident that the acquisition of the property will not have any significant adverse impact on the Group's operations and cash flow.

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