China Partytime Culture Holdings Limited (Stock Code: 1532) disclosed that on 19 November 2025, it executed a Sale and Purchase Agreement to dispose of the entire equity interest in High Kelee Investment Holdings Limited at a total consideration of RMB20.5 million. High Kelee Investment Holdings Limited mainly holds a 51% interest in Zhejiang Kelee Technology Co., Ltd., which is engaged in fabric care, personal hygiene, and home care products. Immediately after completion, the disposed entities will no longer be consolidated into the forthcoming financial statements of China Partytime Culture Holdings Limited.

According to the announcement, the consideration was determined by referencing, among other factors, a valuation carried out by an independent valuer using a market approach. The valuer considered the median enterprise value-to-sales ratio of listed peers (approximately 1.36x), adjusted for control premium, a discount for lack of marketability, and the relevant net debt/cash position. The transaction classifies as a discloseable transaction under Chapter 14 of the Listing Rules. The company estimates a gain of around RMB15.2 million from the disposal and plans to deploy the net proceeds of about RMB20.4 million primarily as general working capital and to support future business opportunities.

In addition, the board of China Partytime Culture Holdings Limited announced a change in the intended use of proceeds from a prior warrant subscription valued at HK$6.32 million that was originally designated to support the now-disposed personal hygiene segment. Following the completion of the disposal, the net proceeds attributed to that business segment will instead be reassigned to general working capital needs. The company stated that the decision is aligned with overall strategy after carefully assessing resource allocation and market conditions.