crashbandicootfusion| Swift Global Holdings (00540.HK) sells AgileSweater(Cambodia)Co., Ltd. Equity of HK$3.3 million

Newsletter summary

Fast Global Holdings (00540CrashbandicootfusionHK) announced the sale of its stake in AgileSweater (Cambodia) Co.,Ltd.100%, its clothing supply chain subsidiary in Cambodia.CrashbandicootfusionWith a transaction price of HK $3.3 million, it aims to enhance cash flow and optimize liquidity

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Fast Global Holdings (00540.HK) announced on May 13 that its indirect wholly-owned subsidiary signed a sale agreement with Tianqin Industrial Co., Ltd. (independent third party) to sell AgileSweater (Cambodia) Co.,Ltd for HK $3.3 million. 100% equity. The target company, an indirect wholly-owned subsidiary of Quick Global Holdings, was incorporated in Cambodia in 2014 and is mainly engaged in clothing supply chain services. However, due to multiple factors such as increased market competition, changing consumer preferences, uncertain political environment and increased labour costs, the board considered it wise to sell the subsidiary. Upon completion of the sale, Quick Global Holdings will significantly enhance its cash flow and improve its liquidity position, reallocating resources for future development. The purpose of this transaction is to optimize the company's asset structure, cope with the increasingly complex market environment, and seek long-term and stable development.