{"id":777010451,"date":"2023-10-23T08:58:01","date_gmt":"2023-10-23T11:58:01","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777010451"},"modified":"2026-04-22T16:54:08","modified_gmt":"2026-04-22T19:54:08","slug":"let-group-sells-chinese-mall-business-at-a-loss","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/let-group-sells-chinese-mall-business-at-a-loss","title":{"rendered":"LET Group sells Chinese mall business at a loss"},"content":{"rendered":"\n<p>LET Group has sold a mainland China mall business as part of its efforts to reallocate resources.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>China.-\u00a0<strong>LET Group Holdings\u00a0<\/strong>has concluded the sale of its mainland Chinese mall operator Dongyang Xinguang Pacific Industrial for RMB 20m (US$2.8m). The transaction closed on October 18, according to LET Group&#8217;s filing.<\/p>\n\n\n\n<p>This decision, resulting in a financial loss, was seen as a necessary step to channel resources toward the development of existing ventures. The mall operator has been making a loss since May 2022 and faced tough competition.<\/p>\n\n\n\n<p>LET Group Holdings <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/let-group-shares-fall-amid-mall-operator-sale-announcement\" target=\"_blank\">share price fell<\/a> amid the original announcement of the sale. In response to the drop in the stock price, LET Group\u2019s chairman,\u00a0<strong>Andrew Lo Kai Bong<\/strong>, purchased over 10 million shares at a price of HK$0.0429 per share.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LET Group has sold a mainland China mall business as part of its efforts to reallocate resources.<\/p>\n","protected":false},"author":176,"featured_media":9219,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"LET Group Holdings has divested its loss-making mainland China mall business, Dongyang Xinguang Pacific Industrial, for RMB 20m (US$2.8m) to reallocate resources towards existing ventures. This strategic move, despite incurring a financial loss, aims to improve the group's financial focus, with the chairman subsequently purchasing over 10 million shares following an initial stock price decline.","focusai_entities":"LET Group Holdings, Dongyang Xinguang Pacific Industrial, Andrew Lo Kai Bong","focusai_location":"China","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.75), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Capital Reallocation Impact","query":"How will the RMB 20m capital freed from this divestment be specifically reallocated to enhance LET Group's existing gaming verticals or reduce group-level debt?"},{"label":"Future Divestment Strategy","query":"Does this divestment signal a broader strategy by LET Group to shed non-core, non-performing assets, and what other segments might be under review for similar strategic re-evaluation?"}],"footnotes":""},"categories":[157,16338],"tags":[24197],"class_list":["post-777010451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-let-group-holdings"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777010451"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010451\/revisions"}],"predecessor-version":[{"id":777041096,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010451\/revisions\/777041096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9219"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777010451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}