- Business
- Easyknit International Holdings Limited (1218.HK), an investment holding company incorporated in Bermuda in 1981 and headquartered at Block A, 7th Floor, Hong Kong Spinners Building, Phase 6, 481-483 Castle Peak Road, Cheung Sha Wan, Kowloon, Hong Kong, principally engages in property development, property investment, investment in securities and others, and loan financing businesses primarily in Hong Kong with some historical activities in Singapore. The property development segment focuses on residential and commercial projects including Garden Crescent at 93 Waterloo Road, Ho Man Tin, featuring 56 luxury apartments with amenities such as a gym, children's playroom, multi-function room, and parking; Ayton at 14-20 Inverness Road, Kowloon Tong, comprising two 8-storey blocks with 60 units and parking; and The Quad at 470-478 Chatham Road North, a 29-storey student hostel with nearly 200 furnished rooms operated in partnership with iRent Group. Property investment involves a portfolio of residential, commercial, and industrial units generating rental and building management income, supplemented by property management services covering facility management, security, cleaning, fire safety, insurance, and emergency support; loan financing provides secured and unsecured fixed-rate loans at 2.5%-6.5% per annum and variable-rate loans to individuals and corporates with collateral such as securities or properties; while investment in securities includes listed equities like Best Food Holding Company Limited (1488.HK) and Ping An Insurance (2318.HK), convertible notes such as the 2023 Convertible Note issued by Eminence Enterprise Limited (616.HK), equity-linked notes, bonds, and entertainment rights. Recent developments include the announcement on 10 October 2025 of a very substantial disposal of the entire issued share capital of Mark Profit Development Limited, owner of a 13,544 sq.ft. commercial property at Fa Yuen Plaza, Mong Kok, to Eminence Enterprise Limited for an expected purchase price of approximately HK$287.1 million to be settled via a new 5% coupon 2025 Convertible Note with a HK$0.169 initial conversion price, subject to shareholder approvals and other conditions including Debt Novation and Securities Transfer; partial disposal of 33.75% of the 2023 Convertible Note on 5 September 2025 for HK$27 million at a premium; amendments to the 2023 Convertible Note including conversion price adjustments to HK$0.07 on 4 June 2025 and earlier changes; acquisition of 3,042,000 Best Food shares on 17 October 2025; a profit alert on 21 November 2025 noting significant net loss reduction; interim results for six months ended 30 September 2025 showing revenue of HK$79.2 million, a HK$109.3 million loss attributable to owners, and net assets of HK$1,617.6 million; and ongoing very substantial disposal processes with SGM scheduled for 15 December 2025.