EASYKNIT INT'L (01218) announced that on March 12, 2026 (after trading hours), the company, as the potential buyer, entered into a non-binding memorandum of understanding with Skill Master, the potential seller and a direct wholly-owned subsidiary of Treasure Chain. According to the MOU, the seller intends to sell, and the buyer intends to acquire, a 10% to 20% equity interest in Treasure Chain International Group Limited, the target company and an indirect wholly-owned subsidiary of Treasure Chain. The target company is a limited liability company incorporated in the British Virgin Islands, primarily engaged in property development. The proposed acquisition is subject to further negotiations between the parties to the MOU. As of the date of this announcement, the primary asset of the target company is a development property located at 646, 648, and 648A Castle Peak Road, Kowloon, planned for development into student accommodation with an estimated value of approximately HKD 940 million. The company observed that the Hong Kong student accommodation market is undergoing rapid growth and transformation, evolving from a niche market into a mainstream real estate asset class. Driven by a significant supply-demand imbalance and supportive government policies, the sector is attracting substantial private equity and institutional investment. The "City Campus Scheme" launched in July 2025 encourages private sector participation in converting existing commercial buildings into student dormitories. This initiative has heightened interest from joint ventures, investors, and fund managers seeking substantial returns in this emerging field. The company believes the potential acquisition will enable the group to increase its participation in the Hong Kong student accommodation market.