SUNFONDA GP (01771) intends to sell its entire equity interest in Wuxi Xinfengtai Automobile Co., Ltd. for RMB 20.30 million.

SUNFONDA GP (01771) announced that on October 14, 2026, the sellers, Xinfengtai Automobile and Xinfengtai Technology Development (both indirect wholly-owned subsidiaries of the Company), intend to sell the entire equity interest in Wuxi Xinfengtai Automobile Co., Ltd. to Shen Xuelong and Sun Qian for a total consideration of RMB 20.30 million. In addition, the buyers have agreed to provide a loan to the target company to repay the loan of RMB 14.94 million owed by the target company to Xinfengtai Technology Development. As at the date of this announcement, the target company owns the target property located at Xingchuang 4th Road, Wuxi City, Jiangsu Province. The target property comprises a parcel of land located at Xingchuang 4th Road, Wuxi City, Jiangsu Province, China (with a site area of 6,176.1 square meters, for wholesale and retail use, and its land use right will expire in July 2053), together with the street-front shops built thereon with a total gross floor area of 6,259 square meters. As at the date of this announcement, the street-front shops of the target property have been leased to an independent third party for commercial use. Based on the needs of the Company's strategic development, the Group has decided to proceed with the disposal of the target company to improve the Group's operating performance and further enhance the quality and efficiency of its business operations. The disposal is conducive to improving the Group's asset utilization, optimizing its financial position and asset liquidity, and focusing on developing its core business to achieve economic benefits and sustainable development.