Greater China Finance (00431) intends to sell all issued share capital of New Cloud Union Investment

MaticHoleFiller · 2026-04-10T16:33:32+00:00

Greater China Financial announced that its wholly owned subsidiary, Jiali Investment, will sell all 50k shares of New Cloud Union Investment Limited for HKD 1 in 2026. The sale includes the company's holdings in eight subsidiaries and one associate company, mainly engaged in loan financing and internet micro-lending businesses. The board believes this move will help reduce financial burdens and free up liquidity to optimize resource allocation to other businesses.

MaticHoleFiller

2026-04-10 16:33:32

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China Great Bay Financial ( 00431 ) announced that on March 25, 2026, the seller Jali Investment Limited (, a direct wholly-owned subsidiary of the Company ), entered into a sale agreement with the buyer Kan Chao. Pursuant to this, the seller has conditionally agreed to sell and the buyer has conditionally agreed to acquire the sale shares, for a total consideration of HKD 1.00.

The sale shares comprise 50k issued shares of the sold company, each with a par value of USD 1.00, representing the entire issued share capital of the sold company as of the date of this announcement.

The sold company, New Cloud Union Investment Limited, is an investment holding company incorporated in the British Virgin Islands. The sold company directly and indirectly holds interests in eight subsidiaries and one associate company established in China. The sale group mainly conducts loan financing businesses through these subsidiaries ( including providing financial guarantees, microloans, loan referrals, and financial consulting services in Ningbo, China ), and holds an internet microloan license in China, which officially permits it to offer financial products to all registered tobacco retailers in China. In addition to its core online loan financing business, the sale group also engages in other businesses, including advertising services targeted at tobacco retailers and e-commerce platform operations. However, due to adverse effects from China’s economic and business environment, the sale group’s loan financing operations in Ningbo have been completely halted since 2024.

The board considers that the proposed sale will help reduce the financial burden on the sale group on the Group. Given that the sale group has incurred losses for consecutive years and remains in a net debt position, the board believes that the proposed sale will free up the liquidity originally allocated to the sale group, allowing resources to be more efficiently allocated to other parts of the Group, namely the tobacco flavoring business.

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