Golden Ponder Holdings Limited (SEHK:1783) entered into an agreement to acquire remaining 60% stake in Chun Yang International (HK) Company Limited from Kwok Chun Sing for HKD 41.5 million on July 15, 2022. As per the transaction, Golden Ponder Holdings Limited (SEHK:1783) already owns 40% stake in Chun Yang International (HK) Company Limited and after the transaction Chun Yang International (HK) Company Limited will become wholly owned subsidiary of Golden Ponder Holdings Limited (SEHK:1783). As on March 31, 2022, Chun Yang International (HK) Company Limited generated revenues of HKD 53.09 million, loss after tax of HKD 6.2 million and net assets of HKD 12.8 million.

The transaction is expected to complete one month immediately after the date of the agreement. D & Partners CPA Limited acted as accountant and VBG Capital Limited acted as financial advisor to Golden Ponder Holdings Limited.