Renze Harvest International Limited (Renze Harvest) disclosed that its indirect wholly owned subsidiary, Ultra Glory Investments Limited, has signed a provisional sale and purchase agreement to sell Unit 1909, 19/F, Tower 2, Lippo Centre, 89 Queensway, Hong Kong, to Grand Dahlia Limited for HK$46.56 million in cash.
The 2,947 sq ft commercial property is being sold at approximately HK$15,800 per sq ft—above the prevailing market range of HK$10,500–HK$15,000 per sq ft quoted for comparable units in the same building between June 2025 and September 2026. Payment will be made in three tranches: an initial HK$2.33 million deposit upon signing (25 September 2026), a further HK$2.33 million by 9 October 2026, and the HK$41.91 million balance on or before 28 December 2026, the scheduled completion date. The asset is being disposed of on an “as-is” basis.
Financial Impact • The property carried a fair value of HK$54.70 million on Renze Harvest’s balance sheet as of 31 December 2025. • Based on the agreed consideration, the group expects to book a fair value loss of roughly HK$8.14 million before transaction expenses and tax.
Use of Proceeds Net proceeds will be directed toward repaying existing indebtedness. As of 31 December 2025, Renze Harvest reported HK$1.01 billion in trade and bill payables and HK$0.94 billion in current borrowings, totaling HK$1.94 billion in short-term obligations. Management views the transaction as an opportunity to monetise non-core assets and strengthen liquidity amid a subdued commercial property market.
Regulatory Classification Given that at least one of the applicable percentage ratios under Hong Kong Listing Rule 14.07 exceeds 5% but is below 25%, the deal is classified as a discloseable transaction, requiring public announcement but not shareholder approval.
Counterparty Profile Purchaser Grand Dahlia Limited is a British Virgin Islands–incorporated investment holding company wholly owned by Mr. Steven Price Blayney and is deemed independent of Renze Harvest and its connected persons.