SMART CITY DEV plans to sell all shares of Colton Ventures Limited
SMART CITY DEV announced that it plans to sell all the shares of Colton Ventures Limited held by its wholly-owned subsidiary Latest Ventures Limited to Mr. Liu Taihua on July 18, 2025. This move aims to streamline operations, concentrate resources on more profitable electromechanical engineering and interior decoration businesses, improve the performance of the construction segment, and enhance the group's liquidity and financial flexibility. The board believes that this sale provides a good opportunity to monetize investments and develop other promising businesses
According to the Zhitong Finance APP, SMART CITY DEV (08268) announced that on July 18, 2025, its wholly-owned subsidiary Latest Ventures Limited intends to sell all issued share capital of Colton Ventures Limited to Mr. Liu Taihua.
It is reported that Dishen Development is a limited company registered in Hong Kong and is a wholly-owned subsidiary of the target company. It engages in construction business as a general contractor and invests in listed securities.
The sale will streamline the group's operations and improve the overall performance of the construction segment by concentrating resources on the relatively high-profit electromechanical engineering and interior decoration businesses. The proceeds will strengthen the group's working capital and financial flexibility. The board of directors believes that the sale provides a good opportunity for the group to realize its investment in the target group and concentrate resources on developing other promising existing businesses
