Smart Fish Wealthlink Holdings Announces Major Disposal of Listed Securities
Key Points of the Report
- Major Transaction: Smart Fish Wealthlink Holdings Limited (“the Company”) announced a major transaction involving the disposal of 31,782,250 shares in CMBC Capital Holdings Limited (“CMBC”), representing approximately 2.9% of CMBC’s issued share capital. The total consideration for this disposal is HK\$95,347,000.
- Sale Agreements: The disposal is executed through two conditional Sale and Purchase Agreements:
- Agreement A: Sale of 19,782,250 CMBC Shares to Purchaser A (Chen Jinfu) for HK\$59,347,000, mostly paid in cash before the agreement date, with the remaining balance due within two business days after signing.
- Agreement B: Sale of 12,000,000 CMBC Shares to Purchaser B (Shio Tian Ho) for HK\$36,000,000, paid in cash before the agreement date.
- Security for Deposit: Both agreements stipulate that the Sale Shares will be transferred to the purchasers’ designated securities accounts as security for the refund of deposits. If conditions precedent are not fulfilled, deposits will be fully refunded and shares returned to the Vendor.
- Conditions Precedent: Completion is subject to shareholder approval at a Special General Meeting (SGM) and no material breach of warranties by purchasers. If not fulfilled by 31 December 2026, agreements terminate without further obligations.
- Financial Impact: The Group expects to record a loss of approximately HK\$25.2 million on the Disposal, mainly due to losses on shares acquired in 2016-17, but offset by realized gains from shares acquired in 2026. Net proceeds after expenses are estimated at HK\$95.3 million, with HK\$34 million allocated to debt repayment and HK\$61.3 million for general working capital.
- Rationale: The disposal is aimed at reducing securities investments and strengthening the Group’s financial position, allowing focus on other businesses, including AI-driven short drama production.
- Shareholder Approval Required: The Disposal constitutes a major transaction under Chapter 14 of the Hong Kong Listing Rules, requiring shareholder approval.
- No Shareholder Conflict: Directors confirm no shareholder is required to abstain from voting on the SGM resolution.
- CMBC Financials: CMBC reported revenue of HK\$467.5 million and net profit of HK\$151.2 million for the year ended 31 December 2025, with net asset value rising to HK\$1,627.8 million.
- Previous Disposals: In the past 12 months, the Group sold 5,353,000 CMBC Shares for HK\$11.56 million at prices between HK\$1.47 and HK\$4.49 per share.
- Board Statement: Directors consider the terms fair and reasonable, in the Company’s and shareholders’ best interests.
- SGM and Circular: A circular with transaction details and SGM notice will be sent to shareholders before 30 September 2026.
Important Information for Shareholders
- Price Sensitive: The Disposal may have a direct impact on the Company’s share price as it will result in a realized loss and a reduction in investment portfolio exposure to CMBC.
- Financial Health: The net proceeds will strengthen the Company’s balance sheet, enabling debt repayment and providing working capital for new business initiatives.
- Strategic Shift: The Company is shifting focus away from securities investments towards other growth areas such as AI-powered short drama production.
- SGM Participation: Shareholders should note their right to vote on the Disposal at the upcoming SGM.
- Transaction Timeline: Completion is expected within three business days after SGM approval, or by 31 December 2026 at the latest.
- Potential Volatility: The disposal, combined with previous sales, may signal a strategic reorientation, potentially affecting investor sentiment and share price.
- Loss and Gain Breakdown:
- Loss of HK\$64 million on 2016-17 Acquired CMBC Shares (purchased at HK\$11.58 each).
- Gain of HK\$38.8 million on Current Year Acquired CMBC Shares (purchased at HK\$1.403 each).
Full Details
On 24 July 2026, Smart Fish Wealthlink Holdings Limited, via its wholly owned subsidiary Central Wealth Infrastructure Investment Limited, agreed to sell an aggregate 31,782,250 CMBC Capital Holdings Limited shares (2.9% of CMBC’s issued share capital) to two independent third-party merchants for a total consideration of HK\$95,347,000. The sale will be executed through two conditional agreements, and completion is subject to shareholders’ approval at a Special General Meeting, along with fulfillment of other conditions. The Company expects to record a net loss on the disposal, but will benefit from increased liquidity and debt reduction. The transaction aligns with the Company’s strategic pivot towards AI-driven short drama business and financial investments. Shareholders will receive a circular detailing the terms and SGM notice before 30 September 2026. The Directors unanimously recommend the transaction as fair and reasonable.
Disclaimer
This article is for informational purposes only and does not constitute investment advice. Investors should perform their own due diligence and consult professional advisors before making any investment decisions. The information is based on the Company’s official announcement and may be subject to change.
智能魚財富連接控股有限公司重磅公布：出售上市證券詳情（粵語版本）
報告重點
- 重大交易：智能魚財富連接控股有限公司（「本公司」）宣布重大交易，出售合共31,782,250股民銀資本控股有限公司（CMBC）股份，佔CMBC已發行股本約2.9%，總作價為港幣95,347,000元。
- 協議詳情：本次出售透過兩份條件買賣協議進行：
- 協議A：向陳金福（買方A）出售19,782,250股CMBC股份，作價港幣59,347,000元，主要已於協議日期前以現金支付，餘額於簽署後兩個工作日內支付。
- 協議B：向邵天浩（買方B）出售12,000,000股CMBC股份，作價港幣36,000,000元，已於協議前以現金支付。
- 押金保障：協議規定股份將轉入買方指定證券賬戶作為押金保障，如條件未達成，押金將全數退回，股份亦須歸還賣方。
- 先決條件：交易須經股東於特別股東大會（SGM）批准，並且買方無重大違約。若未於2026年12月31日前達成，協議自動終止。
- 財務影響：預計本集團將錄得約港幣2,520萬元的處置虧損，主要因2016-17年購入股份虧損，惟2026年購入股份可錄得盈利。扣除費用後，預計淨收益約港幣9,530萬元，其中港幣3,400萬元用於還債，餘額用於集團一般營運資金。
- 交易原因：本次出售旨在減少證券投資，強化財務及現金狀況，集中發展包括AI短劇業務等新業務。
- 股東須知：交易構成上市規則第14章重大交易，須股東批准。
- 無股東衝突：董事確認無股東須於SGM上回避表決。
- CMBC財務：2025年CMBC收入為4.675億港元，淨利潤為1.512億港元，淨資產值升至16.28億港元。
- 過去處置：過去12個月曾出售5,353,000股CMBC股份，作價1,156萬港元，售價介乎每股1.47至4.49港元。
- 董事聲明：董事認為交易條款公平合理，符合公司及股東整體利益。
- SGM及通函：有關交易詳情及SGM通知將於2026年9月30日前寄發股東。
股東重要事項
- 價格敏感：交易將導致已實現虧損及減少對CMBC投資，有可能直接影響本公司股價。
- 財務健康：淨收益將強化公司資產負債表，有利減債及支持新業務發展。
- 策略轉型：公司將重點由證券投資轉向AI短劇等新業務。
- SGM參與：股東有權於特別股東大會表決交易。
- 交易時間表：預計於SGM批准後三個工作日內完成，最遲於2026年12月31日前。
- 可能波動：本次及過去處置或反映策略重組，或影響投資者情緒及股價。
- 虧損及盈利詳情：
- 2016-17年購入股份（每股11.58港元）虧損6,400萬港元。
- 2026年購入股份（每股1.403港元）盈利3,880萬港元。
完整詳情
智能魚財富連接控股有限公司於2026年7月24日，透過全資子公司中央財富基建投資有限公司，與兩名獨立第三方商人達成出售共31,782,250股CMBC股份（佔已發行股本2.9%）的協議，作價合共港幣95,347,000元。交易須經股東特別大會批准及其他條件達成後方可完成。公司預期處置將錄得淨虧損，但能提升流動資金及減少債務，有利推動AI短劇等新業務發展。詳情及SGM通知將於2026年9月30日前寄發股東。董事一致認為交易條款公平合理，並推薦股東支持。
免責聲明
本文章僅供資訊參考，並不構成投資建議。投資者應自行進行盡職調查並諮詢專業顧問。本資訊根據公司公告整理，可能會有變動。
