Greater China Finance (00431.HK) plans to sell New Cloud Union Investment Limited

MaticHoleFiller · 2026-04-10T12:14:32+00:00

Greater China Finance has reached an agreement with Kan Chaoda to sell all shares of Xin Yun Lian Investment Limited for 1 Hong Kong dollar. The company mainly engages in loan financing business, but due to adverse economic impacts, its operations will cease starting in 2024. After the sale, the company is expected to gain approximately 248.3 million Hong Kong dollars.

MaticHoleFiller

2026-04-10 12:14:32

Abstract generation in progress

Gelonghui March 25丨Greater China Finance (00431.HK) announced that on March 25, 2026, the seller (’s direct wholly owned subsidiary ) entered into a sale agreement with the buyer Kan Chao, whereby the seller has conditionally agreed to sell and the buyer has conditionally agreed to acquire all issued share capital ( of Xinyunlian Investment Limited ), for a total consideration of HKD 1.00.

It is understood that the sold company is an investment holding company incorporated in the British Virgin Islands. The sold company directly and indirectly holds interests in eight subsidiaries and one associate company established in China. The sold group mainly engages in the loan financing business through these subsidiaries ( including providing financial guarantees, microloans, loan referrals, and financial consulting services ) in Ningbo, China, and holds an internet microloan license in China, which officially permits it to provide financial products to all registered tobacco retailers in China. In addition to mainly engaging in online loan financing business, the sold group also engages in other businesses, including advertising business targeting tobacco retailers and operation of e-commerce platforms. However, due to the adverse impact of China’s economic and business environment on the sold group’s business, its loan financing business in Ningbo has been completely suspended since 2024.

Upon completion, the group will no longer hold any interests in the sold group. Therefore, all member companies of the sold group will no longer be the Company’s subsidiaries and associate companies, and the assets and liabilities of the sold group ( including accounts receivable and other receivables as well as prepayments and deposits of approximately HKD 16 million, accounts payable, other payables and accrued expenses of approximately HKD 131.7 million, financial guarantee liabilities of approximately HKD 79 million, and borrowings of approximately HKD 171.8 million ) will no longer be consolidated into the Company’s financial statements.

Due to the proposed disposal, the Company expects to record a gain of approximately HKD 248.3 million in relation to the proposed disposal.

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