Company: PLTYF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001410578-25-001338
Chunk: 74

Company: Plastec Technologies, Ltd.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16K
Chunk 74
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 Disposal Agreement; on which date Viewmount also received from the Purchaser HK$112,035representing all amounts due from the former subsidiary disposed of.

F-8

Table of Contents

PLASTEC TECHNOLOGIES, LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)

1. Organization and Business Background (Continued)
On June 29, 2020, the Company disposed of its wholly-owned dormant subsidiary, Allied Sun Corporation Limited, with a negative net worth of approximated HK$1.6to an unaffiliated third party purchaser for HK$27.
On November 29, 2024, the Company disposed of its wholly-owned dormant subsidiary, Sun Line Industrial Limited, with a net worth of approximated HK$4,650to an unaffiliated third party purchaser for the cash consideration of HK$4,650and fully settled before the year ended December 31, 2024. The determination to this disposal was made in an effort to streamline the group’s organizational structure given its limited operations currently. The following table summarizes the assets and liabilities of Sun Line Industrial Limited on November 29, 2024:
Unaudited
November 29,
2024
HK$
Property, plant and equipment, net 291
Cash and cash equivalents 4,082
Deposits and other receivables 297
Accruals ( 20)
Net assets of the subsidiary 4,650
Less: Cash consideration ( 4,650)
 - 
The following table summarizes the operating results of Sun Line Industrial Limited for the years ended December 31, 2023 and the period ended November 29, 2024:
Audited Unaudited
Year ended Period ended
December 31, November 29,
2023 2024
HK$ HK$
Gain on disposal of plant and machinery - 100
Interest income 935 926
Other income - 14
Selling, general and administrative expenses ( 164) ( 1,471)
Income tax expenses - ( 17,199)
Net profit/(loss) for the year/period 771 ( 17,630)
As of December 31, 2024, details of the Company’s subsidiaries are as follows:
Place of Percentage of
Date of incorporation/ equity interest
incorporation/ registration and attributable to
Name establishment operation the Company Principal activities
Sun Ng