VEEKO INT'L Subsidiary to Dispose of Shantou Property for RMB 25.15 Million

Stock News

Feb 12

VEEKO INT'L (01173) has announced that on February 12, 2026, its indirect wholly-owned subsidiary, Shantou Yungao Fashion Co., Ltd., entered into an agreement with buyer Shantou Hexingqiang Garments Co., Ltd. Under the agreement, the seller conditionally agreed to dispose of, and the buyer conditionally agreed to acquire, the property for a consideration of RMB 25.153 million.

The property refers to floors 9, 10, and 11 of the Weigao Building located at No. 2 Keji East Road, Shantou High-tech Zone, Guangdong Province, China. The total gross floor area is 8,384.34 square meters, and the property is designated for industrial use.

After considering current market conditions for the property and the price offered by the buyer, the directors believe the disposal presents a favorable opportunity for the company to realize its investment. The proceeds from the sale will help improve the company's working capital position for potential future opportunities. The company intends to use the net proceeds from the disposal as general working capital.

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