SMART FISH (00139.HK): Acquires Hong Kong Residential Property for HKD 20 Million, Consideration Settled by Offsetting Outstanding Loan
NewTimeSpace News: On 8 September 2026, Smart Fish Holdings Limited (stock code: 00139) announced a discloseable transaction under which its wholly-owned subsidiary, Zhongda Enterprise Consultancy Limited (the purchaser), entered into an agreement with Billion Start Enterprise Limited (the vendor, also the borrower) to acquire a residential property located at The Waterfront, 1 Austin Road West, Kowloon, Hong Kong, for a total consideration of HKD 20,000,000.
According to the announcement, the consideration will be satisfied on a dollar-for-dollar basis by way of offsetting against part of the outstanding amount owed by the vendor to the lender. The lender is Billion Wealth Finance Limited, a wholly-owned subsidiary of the company incorporated in Hong Kong and a licensed money lender under the Money Lenders Ordinance; prior to the offset, the borrower owed the lender approximately HKD 33.9 million, and after the offset the remaining outstanding amount will be approximately HKD 13.9 million. The property has a market value of approximately HKD 20.5 million based on a market-based valuation, and completion is expected to take place on or before 20 November 2026, after which the purchaser intends to use the property as staff quarters for the group.
The company stated that the group is principally engaged in securities and futures trading, financial investments and money lending, and has also launched a short-drama business using artificial intelligence technology. The acquisition provides an opportunity to participate in the Hong Kong property market, and as the consideration is settled by offsetting outstanding loans, the group will not have any cash outflow in respect of the acquisition. As the relevant percentage ratios exceed 5% but are all below 25%, the acquisition constitutes a discloseable transaction of the company under Chapter 14 of the Listing Rules.
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