Alpha Professional Holdings Ltd. (HK:0948) has released an update.
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Alpha Professional Holdings Ltd. has announced the acquisition of a 70% economic interest in a target company, which will now be treated as a 70%-owned subsidiary, resulting in the consolidation of financial statements. This strategic move, involving the settlement of trade debts worth approximately HK$26.25 million, is poised to enhance Alpha’s e-commerce presence in the PRC despite foreign investment prohibitions. The acquisition and subsequent contractual arrangements are in compliance with the Listing Rules, with certain waivers granted, and are deemed fair and in the shareholders’ interests.
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