Magnus Concordia Group Ltd (Stock Code: 1172) published an announcement regarding a major transaction involving the disposal of its entire equity interest in a wholly-owned subsidiary, Jinjin Investments Co., Limited (incorporated in the BVI). According to the announcement, the vender, Clever Star Development Limited (also wholly-owned by Magnus Concordia), entered into an agreement on 20 November 2025 to sell the entire share capital of Jinjin Investments and certain intercompany balances to Vanguard Investments Special Opportunities Fund I, L.P. for a total consideration of HK$4,000,000.

The announcement states that Jinjin Investments and its subsidiaries hold a residential development project in Zigong City, Sichuan Province, with a market value of approximately RMB276.3 million (equivalent to around HK$302.3 million) as at 31 August 2025. Magnus Concordia expects to record an estimated gain of about HK$145.2 million from the transaction, including the release of exchange reserves but excluding transaction costs. After deducting such costs, the net proceeds of approximately HK$3.4 million are expected to be used as general working capital.

Subject to the fulfilment of certain conditions, including shareholders’ approval at an Extraordinary General Meeting scheduled for 22 December 2025, the disposal would result in the immediate cessation of consolidation of Jinjin Investments and its subsidiaries within Magnus Concordia’s financial statements. The board of directors outlined that the move could support the group’s financial position, given the challenging real estate market conditions. The announcement further provides that none of the directors have a material interest in the disposal, and recommends eligible shareholders to vote on the resolution at the upcoming meeting.