NEXION TECH (08420) to sell SaaS business

According to the Zhitong Finance App, NEXION TECH (08420) announced that on December 22, 2025, the company plans to sell all of Big Focus and Rich Joy's shares to Muhammad Ridzuan Gurbaksh Bin Abdullah at a total cost of HK$500,000, which will be paid in cash.

According to reports, Juke is a limited company incorporated in Hong Kong and a wholly-owned subsidiary of Big Focus, mainly engaged in investment holdings; and Hunan Lujiang is a company incorporated in China and a wholly-owned subsidiary of Juke, mainly engaged in SaaS business in China. Weifa is a limited company incorporated in Hong Kong and a wholly-owned subsidiary of Rich Joy, mainly engaged in investment holdings; and Nexin is a company incorporated in China and a wholly-owned subsidiary of Weifa, mainly engaged in SaaS business in China.

Considering the long-term poor performance of the Group's SaaS business, poor prospects and loss of operating performance, the target group's financial data for 2023, 2024 and the nine months ending September 30, 2025 all confirm this situation; and the sale was in line with the Group's strategy to reallocate resources to the core business of the cybersecurity solutions and IT software business. The directors believed that the terms of the agreement were in line with normal commercial terms, were fair and reasonable, and that the sales were in line with the overall interests of the company and shareholders.