China Construction Fortis (00138) plans to sell Blackbird Works Supply Co., Ltd. for HK$17.1 million Limited 95% shareholding

According to Zhitong Finance App, China Construction Fortis (00138) announced that on December 31, 2025, these sellers (East Advance Holdings Limited (as seller A) and Blackbird Automotive Holding Limited (as seller B) are wholly-owned subsidiaries of the company) and the buyer Entex International Holding Limited entered into a sales agreement.

Accordingly, those sellers agreed to sell and the buyer agreed to buy shares to be sold (accounting for the target company Blackbird Works Supply Co. Limited 95% of issued share capital), at a cost of HK$17.1 million. The sale agreement was unconditional and completed on December 31, 2025.

Immediately prior to the sale, the target companies were 99.999% owned by Seller A and 0.001% by Seller B, respectively. The target company mainly provides car hauling and logistics services in Hong Kong. Upon completion, the target company will be 95% owned by the buyer and 5% by seller A.

The directors believe that the sale is beneficial to the Group because it can simplify the Group's organizational structure and streamline business operations; improve the Group's working capital situation; and eliminate additional cash flow capital requirements required for future business development of the target company.