Crown International Corporation Limited has signed an Equity Transfer Agreement to dispose of its entire equity interest in Grandlife Investment Co. Limited (“Target Company”) to Easy Gain Limited for RMB180.00 million (approximately HK$196.70 million). The transaction represents a “very substantial disposal” under Hong Kong Listing Rules, with the highest percentage ratio exceeding 75%, and therefore requires shareholder approval at an extraordinary general meeting (EGM).

Upon completion, the Target Company and its subsidiaries—principally the Weihai Runhe property project—will cease to be consolidated into Crown International’s financial statements. The Group expects to book an estimated loss of HK$49.00 million, calculated from the unaudited net asset value of the Disposal Group (approximately HK$245.40 million) and related disposal expenses.

The disposal will also remove significant liabilities from the balance sheet, including a Bank Loan of roughly RMB744.30 million (about HK$811.30 million) tied to Weihai Runhe. Net proceeds of approximately HK$196.40 million are earmarked entirely for the initial construction outlay of the Group’s Qianhai residential development in Shenzhen, a project with an estimated total cost of RMB1.60 billion and expected completion value of no less than RMB2.00 billion.

Independent valuer Jubilee Appraisal Advisory Limited assessed the Target Company’s equity at RMB206.60 million as of 31 December 2025, based on adjusted net asset value. The Weihai Property’s market worth was appraised at RMB794.00 million (about HK$865.50 million).

In tandem with the transaction, the Board proposes to change the company’s English name from “Crown International Corporation Limited” to “Sinopros Corporation Limited” and its Chinese name to “中國豐匯集團有限公司”, subject to shareholder and regulatory approval.

A circular containing full details of the disposal, the proposed name change, valuation report and pro-forma financials of the remaining group will be dispatched on or before 30 April 2026. Completion of the disposal is conditional on fulfilment of all precedent conditions; shareholders and investors are advised to exercise caution when dealing in the company’s securities.