BASIC H NEWLIFE (08360) Plans HK$5 Million Acquisition of Hong Kong Property

Stock News

Mar 17

BASIC H NEWLIFE (08360) announced that on March 14, 2026, its indirectly wholly-owned subsidiary, Gold Wall Renovation Design Limited, intends to acquire a residential property from Mr. Dau Chau and Ms. Chung Sau Kuen for a consideration of HK$5 million. The property is located at Flat 7, 6th Floor, Man Fai Building, 41 Man Yuan Street, Kowloon, Hong Kong.

Since late 2024, the company has been advancing its business development strategy to expand into the real estate market and the "Simple Living" rental and related management services sector. This strategy involves expanding its business scope through property acquisitions, sub-leasing, or partnerships.

The Board of Directors believes the acquisition is in line with the Group's business development strategy.

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