SuperX AI (SUPX) divests OPS Interior Design subsidiary in HKD 18.8M deal
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
SuperX AI Technology Limited has sold its wholly owned legacy subsidiary, OPS Interior Design Consultant Limited, to OPS’s founding directors. The purchasers acquired 100% of OPS’s shares for HKD 18,764,649 (approximately US$2,395,453), with the price settled by assuming an intercompany payable owed by SuperX to OPS in the same amount. Completion occurred on May 7, 2026, after board approval on April 30, 2026, and OPS has ceased to be a subsidiary. SuperX expects to recognize a gain on disposal in its consolidated financial statements and states that it does not expect the transaction to have a material adverse effect on its ongoing business, financial condition or results of operations.
Positive
- None.
Negative
- None.
Key Figures
Sale consideration: HKD 18,764,649
USD equivalent consideration: US$2,395,453
Interest sold: 100% of issued share capital
+3 more
6 metrics
Sale consideration
HKD 18,764,649
Total consideration for 100% of OPS shares
USD equivalent consideration
US$2,395,453
Approximate US dollar value of OPS sale price
Interest sold
100% of issued share capital
OPS Interior Design Consultant Limited equity stake sold
Board approval date
April 30, 2026
Date SuperX board approved the Agreement
Agreement date
May 4, 2026
Date Sale and Purchase Agreement was signed
Completion date
May 7, 2026
Date OPS ceased to be a subsidiary of SuperX
Key Terms
Sale and Purchase Agreement, intercompany payable, gain on disposal, forward-looking statements, +1 more
5 terms
Sale and Purchase Agreement financial
"entered into a Sale and Purchase Agreement (the “Agreement”) with"
A sale and purchase agreement is a binding written contract that sets out the exact terms under which one party sells and another buys assets or a business, much like the detailed receipt and instructions you get when buying a house. It matters to investors because it defines the price, what is included, payment timing, and any promises or protections — all of which determine future cash flows, risk, and the value of the companies involved.
intercompany payable financial
"assumption by the Purchasers, jointly and severally, of an intercompany payable owing"
gain on disposal financial
"the Company expects to recognize a gain on disposal in its consolidated"
forward-looking statements regulatory
"This Report contains forward-looking statements within the meaning of"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
material adverse effect financial
"does not expect the disposal to have a material adverse effect on its ongoing business"
A material adverse effect is a significant negative change or event that substantially reduces a company’s business, financial condition, or future prospects — think of it like a sudden major engine failure that makes a car unreliable. Investors care because such an event can lower expected profits, trigger contract clauses (allowing counterparties to renegotiate or walk away), and prompt swift stock-price reassessment based on the higher risk and uncertainty.
FAQ
What business did SuperX AI Technology Limited (SUPX) sell in this Form 6-K?
SuperX AI Technology Limited sold 100% of its Hong Kong subsidiary, OPS Interior Design Consultant Limited. OPS was a wholly owned legacy business, and all of its existing contracts, assets, employees, and liabilities remain with OPS following completion of the disposal.
How much did SuperX (SUPX) receive for selling OPS Interior Design Consultant Limited?
The total consideration for OPS’s shares was HKD 18,764,649, approximately US$2,395,453. Instead of cash, the purchasers assumed an intercompany payable from SuperX to OPS in the same amount, fully settling the purchase price at completion.
Who bought OPS Interior Design Consultant Limited from SuperX (SUPX)?
OPS was purchased by its founding directors, Mr. Yip Sai Kit, Dicky, Mr. Chan Yuk Ki Francis, and Ms. So Siu Lai. They jointly acquired 100% of OPS’s issued share capital in approximately equal proportions and are jointly and severally liable for the consideration.
When did the OPS sale by SuperX (SUPX) become effective?
The Sale and Purchase Agreement was signed on May 4, 2026, after board approval on April 30, 2026. Completion of the transaction occurred on May 7, 2026, at which point OPS ceased to be a subsidiary of SuperX AI Technology Limited.
How will the OPS disposal affect SuperX’s (SUPX) financial statements?
SuperX expects to recognize a gain on disposal in the consolidated financial statements for the period in which completion occurred. The company also states it does not expect the disposal to have a material adverse effect on its ongoing business, financial condition or results of operations.
How was the OPS sale consideration structured for SuperX (SUPX)?
Instead of paying cash, the purchasers assumed an intercompany payable that SuperX owed to OPS equal to the HKD 18,764,649 consideration. This assumption was set off against their payment obligation, and SuperX was released from the payable at completion.