Hong Kong Stock Movement | MEILLEUREHEALTH (02327) Plunges Over 5% During Trading, Company Plans to Spend 125 Million Yuan to Acquire Full Stake in Jiangsu Yide-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Hong Kong Stock Movement | MEILLEUREHEALTH (02327) Plunges Over 5% During Trading, Company Plans to Spend 125 Million Yuan to Acquire Full Stake in Jiangsu Yide

Stock News01-12

MEILLEUREHEALTH (02327) saw its shares drop more than 5% during the trading session. As of the time of writing, the stock was down 3.57%, trading at HK$0.27, with a turnover of HK$721,900. The decline follows news of a connected transaction announced by MEILLEUREHEALTH, involving the acquisition of a total 100% equity stake in Jiangsu Yide from Yu Ye Group and Ms. Tan Wensheng. Jiangsu Yide holds 17 commercial properties, 3 residential properties, and 34 parking spaces located in Nanjing, with a total area of approximately 5,306 square meters. The total cash consideration is RMB 125 million, which will be funded using internal resources. According to the announcement, Jiangsu Yide is primarily engaged in equity investment and property leasing businesses in China. The group mainly operates in the residential and commercial real estate sectors. Given the superior location of the Yide properties, the board intends to hold these assets through Jiangsu Yide for investment purposes, aiming to generate rental income from them.

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