GOGOX (02246.HK): to sell mainland unit GGEx for RMB1, rename to GOGO Tech

NewTimeSpace News: On 6 November 2026, GOGOX Holdings Limited (02246.HK) published a circular, under which the company entered into a sale and purchase agreement with Crestpoint Investment Limited, an independent third party wholly owned by Mr. Wu Zifeng, on 16 October to conditionally dispose of the entire issued share capital of its wholly-owned subsidiary GGEx Holdings Limited for a consideration of RMB1.00.

The target group mainly operates the "Kuaigou Dache" online intra-city freight business in mainland China through contractual arrangements. It recorded an unaudited net liability of about RMB2.476 million as at 30 June 2026 and a net loss of about RMB49.259 million in the first half of 2026. Upon completion, the target group will no longer be consolidated into the company's financial statements, and the company will no longer operate any business in China, focusing instead on Hong Kong and overseas markets including Singapore, India, South Korea and Vietnam. The disposal constitutes a major transaction with an estimated gain of about RMB2.476 million.

The company also proposes to change its Chinese name from "快狗打车控股有限公司" to "GOGO 科技", while its English name GOGOX Holdings Limited remains unchanged. Both resolutions will be put to an extraordinary general meeting on 30 November, and the name change will take effect only after the disposal is completed.