SOLOMON SYSTECH (02878.HK): Seller's Ultimate Owners Disclosed, New World Development Holds 49% Indirectly

NewTimeSpace News: On 10 November 2026, Solomon Systech (International) Limited (stock code: 02878) issued a supplemental announcement to its 6 November 2026 announcement on the purchase of a property, which constituted a discloseable transaction, providing additional information on the identity of the seller's ultimate beneficial owners.

The announcement disclosed that, as at the date of the original announcement and to the best of the directors' knowledge after all reasonable enquiries, the seller is indirectly wholly-owned by Eastern City International Limited, which is owned as to 49% by Noble Rich Holdings Limited and 51% by Skyresh Investment (Singapore) Pte. Limited. Noble Rich Holdings Limited is indirectly wholly-owned by New World Development Company Limited, a company listed on the Main Board of the Stock Exchange under stock code 0017.

The Company stated that Skyresh Investment (Singapore) Pte. Limited is a company incorporated in Singapore and indirectly wholly-owned by Ares SSG Capital Partners VI, L.P., a fund advised by Ares Management Asia (Cayman) Limited, which is a subsidiary of Ares Management Corporation, listed on the New York Stock Exchange under ticker ARES.

The Company stated that, save for the above, all other information in the original announcement remains unchanged, and that the supplemental announcement supplements and should be read together with the original announcement.