PROSP INV HOLD (00310): Easy Ace Plans Voluntary Liquidation Involving 14.7% Stake in Kangzhan Investment

Stock News
Sep 05, 2025

PROSP INV HOLD (00310) announced that on September 5, 2025 (after trading hours), the directors of Easy Ace resolved to proceed with a solvent voluntary liquidation of Easy Ace. As of the announcement date, Easy Ace is an indirect wholly-owned subsidiary of the company. Easy Ace's sole asset is an investment representing a 14.7% equity stake in Kangzhan Investment, while Kangzhan Investment's only investment is a 54.0% beneficial equity stake in a Chinese entity. Following the commencement of the proposed liquidation, Easy Ace will no longer be a subsidiary of the company, and its financial position and results will no longer be consolidated into the group's financial position and results. As Easy Ace has not generated any revenue for the group and the book value of the investment is only HK$5.3 million, although the proposed liquidation will result in the write-off of receivables to zero and cause a material impact on the group's financial position, the board of directors believes that the proposed liquidation will not have any material adverse impact on the group's financial performance and operations. Additionally, trading suspension continues.

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