Hong Kong–listed Vongroup Limited (Vongroup) has completed a share-swap transaction that refocuses the group on artificial intelligence services while exiting non-core consumer-finance operations. On 29 April 2026, Vongroup acquired 40% of Slencor AI Inc. for HK$24.00 million and simultaneously disposed of 60% of Vongroup Consumer Finance Corporation (VCFC) for an equivalent HK$24.00 million, with both considerations settled by set-off at closing.

The deal also grants Vongroup a four-year Right of First Refusal (ROFR) to buy additional Slencor AI shares up to a cumulative cap of HK$120.00 million. Any exercise price will be the lower of an incoming third-party offer or a formula based on Slencor AI’s average net profit, subject to a sliding “benchmark amount” and capped at ten times earnings (or five times if profits fall below the benchmark).

Slencor AI, a British Virgin Islands–incorporated holding company for Hong Kong-based Slindon Recruitment Limited, focuses on AI agentic data training and reinforcement learning from human feedback (RLHF). Slindon reported an unaudited profit after tax of HK$3.75 million in FY 2025, reversing a HK$0.29 million loss in FY 2024, and held net assets of approximately HK$4.10 million at year-end 2025.

VCFC, the divested consumer-finance subsidiary, recorded consecutive annual losses of HK$0.02 million in FY 2025 and FY 2024, with unaudited net assets of HK$38.21 million as at 31 October 2025. Vongroup expects to book an unaudited disposal gain of about HK$1.10 million; VCFC will cease to be consolidated, while the newly acquired Slencor AI stake will be equity-accounted as an associate.

The Hong Kong Stock Exchange has classified the combined acquisition and disposal as a “discloseable transaction” under Chapter 14 of the Listing Rules, as relevant percentage ratios exceed 5% but remain below 25%. Trading in Vongroup shares, suspended on 30 April 2026 pending this announcement, is set to resume on 4 May 2026.

Management views the transaction as a strategic shift toward higher-growth AI businesses, leveraging Slencor AI’s expertise in data-labeling and RLHF to bolster Vongroup’s technology-focused portfolio while reallocating resources away from a low-return consumer-finance segment.