Chu Ying Man agreed to acquire Honest City Enterprises Limited from Champion Technology Holdings Limited (SEHK:92) for HKD 45.9 million on May 2, 2023. The transaction is conditional upon the Champion Technology having shown and proven that it has good title to the Sale Shares and the Sale Loan free from all encumbrances, the passing of the necessary resolutions by the shareholders at the SGM approving the agreement and the transactions contemplated and all necessary consent of the Government Authorities and/or the Stock Exchange in respect of the agreement and the transactions contemplated, if any, having been obtained by the relevant parties. Champion Technology intends to use the net proceeds for general working capital. As of July 18, 2023, at the Special General Meeting of Champion Technology Holdings, 97.95% of the shareholders voted in favor if the acquisition.

Chu Ying Man completed the acquisition of Honest City Enterprises Limited from Champion Technology Holdings Limited (SEHK:92) on October 30, 2023.