Empire Charm Limited entered into a sale and purchase agreement to acquire 16% stake in Hengdeli Holdings Limited for approximately HKD 100 million.

Hengdeli Holdings Limited is a company principally engaged in the retail and distribution of mid-to-high-end consumer goods including internationally renowned branded watch, the provision related customer services and manufacture of related accessory products. The High-end Consuming Accessories Segment is engaged in the manufacturing of watch accessories and shop design and decoration services business. The Commodity Trading segment is engaged in the trading of iron ore and coal. The Watches Trading segment is engaged in the trading of watches and jewellery business.