sagespectrum34| Swift Global Holdings (00540.HK) plans to sell Agile Sweater (Cambodia) Co., Ltd. for HK$3.3 million, Ltd. 100% equity

Gelonghui 13 May, Quick Global Holdings (00540)Sagespectrum34.HK) announcementSagespectrum34On May 13, 2024,Sagespectrum34The seller (an indirect wholly-owned subsidiary of the company) and the buyer Tianqin Industrial Company Limited (an independent third party) entered into the agreement relating to the sale, whereby the seller agreed to sell and the buyer agreed to purchase the target company Agile Sweater (Cambodia) Co.Sagespectrum34Ltd. 100% equity at a consideration of HK $3.3 million.

On the date and before the completion of the agreement, the target company is an indirect wholly-owned subsidiary of the company. It is a limited company registered in Cambodia in 2014, mainly engaged in providing clothing supply chain services.

Taking into account the financial performance of the target company and after reviewing its business and operating conditions, taking into account the increasingly fierce market competition, changing consumer preferences, the uncertainty of the political environment where the operation is located, and the increasing labour costs and other fixed costs of the target company, the board of directors considers that the sale is appropriate. Upon completion of the sale, it will also enhance the Group's cash flow, improve its liquidity and reallocate resources for future development.