An undisclosed buyer entered into the sale and purchase agreement to acquire Excel Technology Co.,Ltd from Yu Tak International Holdings Limited for HKD 0.1 million.

An undisclosed buyer entered into the sale and purchase agreement to acquire Excel Technology (Shanghai) Co.,Ltd from Yu Tak International Holdings Limited (SEHK:8048) for HKD 0.1 million on December 16, 2019. For the year ended December 31, 2018, Excel Technology (Shanghai) Co.,Ltd has revenue of HKD 13.95 million and net profit after taxation of HKD 0.092 million. The transaction is conditional upon the compliance by Yu Tak International Holdings Limited of all requirements under the GEM Listing Rules or other regulatory authorities. Completion shall take place on December 20, 2019.