China Partytime Culture (HKG:1532) unit Partytime Group agreed to sell the entire equity interest in Zhejiang Zhongpai Enterprise Management to Zhejiang Bestway Costume & Accessory for 80 million yuan, a Tuesday bourse filing said.

The cosplay products company will use proceeds from the disposal for the expansion of its manufacturing and production site in Jiangxi Province, repayment of borrowings, and general working capital.

On the same day, Partytime Group has agreed to lease back certain properties in Zhejiang Province, China, from the target company for a three-year term.

As of Sept. 30, Zhejiang Zhongpai Enterprise Management, which engages mainly in property holding and factory premises leasing, holds land and properties with a total book value of roughly 103.3 million.