{"id":777021540,"date":"2024-12-16T08:53:55","date_gmt":"2024-12-16T11:53:55","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777021540"},"modified":"2026-04-22T03:16:17","modified_gmt":"2026-04-22T06:16:17","slug":"success-universe-subsidiary-reduces-position-in-tesla","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/success-universe-subsidiary-reduces-position-in-tesla","title":{"rendered":"Success Universe subsidiary reduces position in Tesla"},"content":{"rendered":"\n<p>Success Universe Group has announced that Better Talent has sold some of its shares in the car maker.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Hong Kong.- <strong>Success Universe Group <\/strong>has announced that its subsidiary,<strong> Better Talent (BTL)<\/strong>, has sold 19,500 shares in Tesla for HK$64.7m (US$8.3m) excluding transaction costs. It had previously sold 23,500 shares for HK$76.6m (US$9.8m). The two sales reduce its position from 96,750 to<strong> 73,250 shares<\/strong>.<\/p>\n\n\n\n<p>Success Universe said the proceeds from the disposals will be used as general working capital and\/or to repay borrowings. It said directors consider the disposals &#8220;fair and reasonable and in the interests of the company and the shareholders as a whole.&#8221;<\/p>\n\n\n\n<p>The sales are expected to add a gain of HK$30.8m for the financial year ending December 31, 2024. For the first half of the year, Success Universe posted a net loss of HK$35.5m (US$4.6m). That compares with\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/success-universe-returns-to-profit-in-h1\" target=\"_blank\" rel=\"noreferrer noopener\">an unaudited consolidated profit<\/a>\u00a0of HK$153.8m (US$19.7m) for the corresponding period last year.<\/p>\n\n\n\n<p>Success Universe is a partner in <strong>Ponte 16 casino resort complex<\/strong> alongside a subsidiary of Macau casino operator SJM Holdings. In November, the venue was allowed to\u00a0<strong>expand its non-gaming facilities<\/strong> to add\u00a0a commercial building, plaza, and a ship\u00a0named Macau Palace. The name was previously associated with a floating casino previously operated by\u00a0<strong>SJM Holdings<\/strong>, which has a stake in Ponte 16 and provides its gaming licence<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Success Universe Group has announced that Better Talent has sold some of its shares in the car maker.<\/p>\n","protected":false},"author":176,"featured_media":19265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Success Universe Group's subsidiary, Better Talent, executed two disposals of Tesla shares totaling HK$141.3m, generating a projected HK$30.8m gain for FY2024, with proceeds earmarked for general working capital and debt repayment. Concurrently, the group, a partner in the Ponte 16 casino resort, reported a net loss for H1 2024, while its Macau venue secured approval for significant non-gaming facility expansion.","focusai_entities":"Success Universe Group, Better Talent (BTL), Tesla, SJM Holdings, Ponte 16","focusai_location":"Hong Kong, Macau","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Capital Allocation Strategy","query":"How will the proceeds from the Tesla share disposals specifically impact Success Universe Group's debt servicing capabilities and its capital expenditure plans for the Ponte 16 non-gaming expansion?"},{"label":"Macau Market Dynamics","query":"Given the H1 2024 net loss, what are the projected revenue contributions from the expanded non-gaming facilities at Ponte 16, and how are these expected to mitigate the group's financial performance in the context of Macau's evolving gaming and tourism landscape?"}],"footnotes":""},"categories":[16338,163],"tags":[23906,24463],"class_list":["post-777021540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos","tag-success-universe-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021540","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=777021540"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021540\/revisions"}],"predecessor-version":[{"id":777021543,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777021540\/revisions\/777021543"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19265"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777021540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777021540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777021540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}