FLJ Group Limited Announces Disposal of Long-term Apartment Rental Business
31 Outubro 2023 - 7:00PM
FLJ Group Limited (NASDAQ: FLJ) (“FLJ” or the “Company”), announced
that it entered into an equity transfer agreement on October 31,
2023 to sell all of its equity interest in its indirectly
wholly-owned subsidiary Haoju (Shanghai) Artificial Intelligence
Technology Co., Ltd. ( the “WFOE”), a limited company incorporated
under the laws of PRC, to Wangxiancai Limited, a limited company
incorporated under the laws of Hong Kong, for nominal consideration
(the “Disposal”). The Disposal was completed on the same date.
Through the WFOE and the WFOE’s subsidiaries, the Company carried
out its long-term apartment rental business (the “Disposed
Business”). The Disposed Business contributed substantially all
revenue and held substantially all of the assets of the Company
prior to the Disposal. Certain key management of the Company will
stay after the Disposal.
The Disposal was approved by the board of
directors of the Company, upon the recommendation and approval of
the audit committee of the board of directors.
As previously announced, the Company entered
into an equity acquisition agreement (the “Acquisition”) on
September 29, 2023 with certain shareholders of Lianlian Holdings
Inc. (“Lianlian”) to acquire 95% of Lianlian’s issued and
outstanding shares. Lianlian is an online lifestyle service
provider headquartered in Chengdu, China, providing comprehensive
marketing and promotion services to restaurants, hotels and other
leisure and entertainment merchants, helping them achieve
cost-effective operations. Leveraging Lianlian’s e-commerce
platform, merchants can effectively reach end consumers to fulfill
their daily needs for food, travel and other lifestyle
services.
Mr. Chengcai Qu, the chief executive officer of
the Company, said, “The macro-environment of China’s long-term
apartment rental market was affected by COVID-19, dampening the
demand for long-term rental apartments in areas where we operate
while driving up our operating cost and expenses. We believe the
Disposal will help us focus our resources on China’s large and
fast-growing online lifestyle services sector. Leveraging our
experience from long-term apartment rental business, we are able to
identify consumers’ consumption habits and patterns and quickly
respond to their needs. Furthermore, we believe we can readily
apply our experience in sourcing and promoting apartments and
reaching tenants via online platforms to the lifestyle services
sector to effectively attract quality merchants and end consumers
to Lianlian’s e-commerce platform. Upon the consummation of the
Acquisition, we will work together with Lianlian to offer more
comprehensive and enhanced lifestyle services.”
Safe Harbor Statement
This press release contains forward-looking
statements. These statements constitute “forward-looking”
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and as defined in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as “will,” “expects,”
“anticipates,” “future,” “intends,” “plans,” “believes,”
“estimates” and similar statements. Among other things, the
quotations from management in this press release and the Company
and its subsidiaries’ operations and business outlook contain
forward-looking statements. Such statements involve certain risks,
uncertainties and other factors that could cause actual results to
differ materially from those in the forward-looking statements.
These risks and uncertainties include, but are not limited to the
following: risks related to the expected timing and likelihood of
completion of the Acquisition, including the risk that the
transaction may not close before the long-stop date, or due to one
or more closing conditions to the transaction not being satisfied
or waived, such as regulatory approvals not being obtained, on a
timely basis or otherwise, or that a governmental entity prohibits,
delays or refuses to grant approval for the consummation of the
transaction or required certain conditions, limitations or
restrictions in connection with such approvals; the occurrence of
any event, change or other circumstances that could give rise to
the termination of the applicable transaction agreements; the risk
that there may be a material adverse change with respect to the
financial position, performance, operations or prospects of
Lianlian or the Company; risks related to disruption of management
time from ongoing business operations due to the proposed
transaction; the risk that any announcements relating to the
proposed transaction could have adverse effects on the market price
of the Company’s securities or result in significant fluctuations
of the market price of the Company’s securities; the risk that the
proposed transaction and its announcement could have an adverse
effect on the ability of Lianlian to retain customers and retain
and hire key personnel and maintain relationships with their
suppliers and customers and on their operating results and
businesses generally; any changes in the business or operating
prospects of Lianlian or its businesses; changes in applicable laws
and regulations; risks relating to the combined company’s ability
to enhance its services and products, execute its business
strategy, expand its customer base and maintain stable relationship
with its business partners; the growth of the lifestyle service
industry in China; risks relating to Company’s ability to meet or
continue to meeting applicable listing requirements; the Company’s
ability to retain its key management personnel; the Company’s
strategic review of its operations; the Company’s M&A
strategies and its ability to integrate any acquisitions, new
business initiatives, and strategic investment; the Company’s
ability to access financing on favorable terms in a timely manner
and maintain and expand its cooperation with financial
institutions; the Company’s ability to continue as a going concern
in the future or achieve or maintain profitability; the Company’s
ability to effectively respond to the challenges and uncertainties
resulting from the COVID-19 pandemic and other outbreaks and
catastrophes; the Company’s ability to manage its growth; the
Company’s ability to resolve disputes with third parties; the
Company’s ability to manage its brand and reputation; the Company’s
ability to compete effectively; and assumptions underlying or
related to any of the foregoing. Further information regarding
these and other risks is included in the Company’s filings with the
U.S. Securities and Exchange Commission. Except as required by law,
the Company does not undertake any obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
For investor and media inquiries, please
contact:
FLJ Group Limited E-mail: ir@qk365.com
Christensen
In China Mr. Rene Vanguestaine Phone: +86-10-5900-1548 E-mail:
rene.vanguestaine@christensencomms.com
In the U.S. Ms. Linda Bergkamp Phone: +1-480-614-3004 Email:
Linda.bergkamp@christensencomms.com
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