LITU HOLDINGS (01008) plans to acquire a property in Hong Kong.

LITU HOLDINGS (01008) announced that on August 27, 2026, the buyer, Chuangjin Properties Limited (a wholly-owned subsidiary of the company), entered into an agreement with the seller, Po Global Limited, regarding the acquisition, with a total cash consideration of HKD 12.51 million. The acquisition is expected to be completed on or before October 5, 2026. It is reported that the property is a retail unit located on the ground floor of the commercial building known as Admiralty Tower in a prime area of Wan Chai, Hong Kong. The usable area of the property is approximately 275 square feet. This acquisition represents a strategic opportunity for the group to further expand and strengthen its investment property portfolio, in line with its strategy to enhance its property leasing business and diversify its income sources. The property is located in the same building as a property previously acquired by the group, which was disclosed in the companys announcement on March 25, 2025, and in the circular dated May 26, 2025. The related acquisition was completed in June 2025. The Board believes that this acquisition will further consolidate the groups ownership interests in "Admiralty Tower" and enhance the overall management flexibility and investment value of its property portfolio within the building. Upon completion of the acquisition, the group intends to renovate the property for leasing, thereby creating continuous and stable rental income and enhancing the long-term value of the groups investment property portfolio. Furthermore, given that the consideration is approximately 5.8% below the indicative value of the property, the Board believes that the acquisition is made on favorable commercial terms, allowing the group the opportunity to acquire a high-quality property at a price below its indicative value. The Board also notes that the Hong Kong property market has recently shown signs of gradual stabilization and recovery, making this acquisition an opportunity for the group to capitalize on potential future rental growth and asset appreciation benefits.