Changes in Hong Kong stocks | Tourover-W (09690) rose nearly 6% to acquire all shares in Australian Conti Trade Australia Pty Ltd to advance international expansion strategy

The Zhitong Finance App learned that Tourover-W (09690) rose nearly 6%. As of press release, it had risen 4.87% to HK$10.76, with a turnover of HK$13.292,700.

According to the news, Tourover-W announced that on September 24, 2026, the buyer (TUHU Car (Hong Kong) Limited, an indirect wholly-owned subsidiary of the company) and the seller (Continental Global Holding Netherlands B.V., a wholly-owned subsidiary of Continental AG) entered into a share sale agreement. According to this, the buyer has already agreed to acquire the target company (Conti Trade Australia Pty) Ltd)'s total issued share capital.

The target company owns and operates the “mycar Tyre & Auto” network, which is one of the largest tire, car service and maintenance chains in Australia, providing comprehensive one-stop car services through 279 stores across the country. The acquisition was based on the target group's agreed enterprise value of 403 million Australian dollars (equivalent to about HK$2.25 billion). After adjustments were made to the target group's net debt and working capital amounts, it was determined that the delivery payment is currently estimated at about 278 million Australian dollars (equivalent to about HK$1.55 billion). This amount must be paid in cash at the time of delivery and can be adjusted after delivery.

Through the national retail and service platform that the target group has established in Australia, it has established a meaningful operating base outside of China, thereby advancing its international expansion strategy, thereby consolidating the Group's position as a leading automotive service platform and laying the foundation for further development of its international business map.