NEXION TECH (08420) Plans to Divest SaaS Business

Stock News12-22 19:10

NEXION TECH (08420) announced on December 22, 2025, that it intends to sell the entire equity of Big Focus and Rich Joy to Muhammad Ridzuan Gurbaksh Bin Abdullah for a total consideration of HK$500,000, payable in cash.

Big Focus is a wholly-owned subsidiary incorporated in Hong Kong, primarily engaged in investment holding. Its subsidiary, Hunan Lujiang, operates SaaS business in China. Similarly, Rich Joy's wholly-owned subsidiary, Weifa, is an investment holding company based in Hong Kong, while its China-registered subsidiary, Naixin, focuses on SaaS operations.

The decision follows the underperformance of the group's SaaS business, with poor prospects and operational losses reflected in the financial data for 2023, 2024, and the nine months ended September 30, 2025. The divestment aligns with the group's strategy to reallocate resources toward its core businesses—cybersecurity solutions and IT software.

The board considers the transaction terms fair and reasonable, in line with normal commercial practices, and believes the sale serves the best interests of the company and its shareholders.

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