11:20 AM EDT, 04/30/2024 (MT Newswires) -- Highest Performances ( HPH ) said Tuesday it plans to provide full funding to Singapore White Group unit Zhongxin International Sports Group when bidding for intellectual property rights of sporting events.

Highest Performances ( HPH ) and Singapore White will jointly invest in major events organized by the International Tennis Federation, as well as Formula 1 World Championship events in China. Highest Performances ( HPH ) said the entire profit generated from the sporting events will be attributed to it.

The parties have agreed that Singapore White will sell a roughly 27% equity interest in Zhongxin to Highest Performances ( HPH ), with final terms to be agreed upon "in due course," the latter said.

Highest Performances ( HPH ) shares were down 1.2% in recent trading.

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