Hong Kong – 12 March 2026 – Easyknit International Holdings Limited (Stock Code: 01218, “Easyknit Int’l” or “the Company”) has entered into a non-legally binding Memorandum of Understanding (MOU) with Skill Master Investments Ltd. (“Skill Master”), an indirect wholly owned subsidiary of Asset Chain Limited (Stock Code: 00616, “Asset Chain”), to explore acquiring a 10%–20% equity stake in Treasure Arts International Group Ltd. (“Treasure Arts”), a British Virgin Islands–incorporated property development company.
Transaction framework • Target: Treasure Arts, whose key asset is a student-hostel redevelopment at Nos. 646, 648 and 648A Castle Peak Road, Kowloon, valued at approximately HK$940 million. • Intended stake: 10%–20%. • Consideration: To be finalised in a definitive agreement (“Formal Agreement”); Easyknit Int’l will pay a refundable cash deposit of HK$30 million within 15 business days of signing the MOU. The deposit will be offset against the eventual consideration or returned within 10 business days if no Formal Agreement is concluded by 12 June 2026 (the “Valid Period”). • Exclusivity & due diligence: Easyknit Int’l holds exclusive negotiation rights during the Valid Period and may conduct legal, financial and operational due diligence.
Strategic rationale Easyknit Int’l identifies the Hong Kong purpose-built student accommodation sector as a fast-growing asset class, benefiting from a government-backed “Hostels in the City Scheme” and structural demand-supply imbalance. Management views the prospective investment as complementary to its core activities in property development, property investment, securities investment and loan financing, and as consistent with its strategy to enhance shareholder returns through selective real-estate opportunities.
Shareholding linkage with Asset Chain Easyknit Int’l and its subsidiaries currently own 82.29 million Asset Chain shares (4.41% of issued capital). Full conversion of its HK$209.00 million 2023 Convertible Note (conversion price: HK$0.05) and HK$286.80 million 2025 Convertible Note (initial conversion price: HK$0.169) would raise the stake to 2.19 billion Asset Chain shares, or 55.97% of the enlarged share capital. Treasure Arts is an indirect wholly owned subsidiary of Asset Chain.
Regulatory implications Should the Possible Acquisition proceed, it may constitute a notifiable transaction under the Hong Kong Listing Rules, requiring further disclosure. Except for clauses on due diligence, deposit, exclusivity and confidentiality, the MOU is non-binding. Shareholders and investors are advised that the transaction remains subject to negotiation, due diligence and regulatory approvals; there is no certainty that a Formal Agreement will be executed.
Company profile Easyknit Int’l is a Bermuda-incorporated investment holding company listed on the Main Board of the Stock Exchange. The group focuses on property development and investment, securities investment and loan financing.