CSC DEVELOPMENT (00830) announced that on November 6, 2025 (Toronto time, after Hong Kong Stock Exchange trading hours), its wholly-owned subsidiary, Hygate Property Corp., agreed to sell Canadian assets to The Royale LP for C$93.288 million.

The assets to be sold include all properties and assets owned by the seller or dedicated to Canadian operations (excluding excluded assets) as of the closing date. These assets comprise: (a) The property (including the land and buildings situated on or under it); (b) Personal property; (c) Transferable licenses required for Canadian operations issued to the seller or its affiliates; (d) Contracts and arrangements exclusively related to Canadian operations; (e) Prepaid expenses and deposits; (f) Business names; (g) Lease and service agreement receivables generated from and after the closing date; and (h) CASL consents (collectively referred to as the "Canadian Assets").

The land, located at 215 & 229 Lexington Road, Waterloo, Ontario, Canada, was acquired by the group in 2018. Spanning approximately 19,020 square meters, it is zoned for mixed residential use. Following the acquisition, the group developed the site into a senior living facility named "Hygate on Lexington." The total gross floor area of the buildings and ancillary facilities on the land is approximately 17,762 square meters.

The board believes the sale presents an opportunity to monetize Canadian assets at a reasonable price and strengthen the group’s cash flow. Proceeds from the transaction will directly bolster working capital, enhance liquidity reserves, and significantly improve financial stability and risk resilience, laying a firmer foundation for future business growth.

Additionally, by divesting non-core operations, the group will further sharpen its strategic focus on high-end glass curtain walls and building-integrated photovoltaics (BIPV), driving business breakthroughs, higher profitability, and sustainable development.