Allegro Culture (HKG:0550) has completed the disposal of two of its subsidiaries as it faces ongoing audit issues.
The company has sold Beyond Noble Holdings and Smart Path for HK$19,000 and HK$1, respectively, to Wise World International Investment, according to a Friday filing with the Hong Kong bourse.
Beyond Noble owns 51% of KK Wecheck Medical Technology's entire issued share capital, while Smart Path owns Hopeful Top.
The decision comes over a year after the company announced that its board was unable to retrieve evidence and acquire "meaningful understanding" of the business operations and financial positions of KK Wecheck and Hopeful Top.
Allegro said the move aims to resolve its audit issues and facilitate the resumption of its stock trading. Trading in Allegro's shares has remained suspended since April 2024.
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