Dragon Wing Aviation Technology (00918): Acquired sale of 300 million shares by shareholder Zhang Jinbing

Zhitong Finance App News, Longyi Aviation Technology (00918) issued an announcement. The board of directors of the company was notified by Always Profit Development Limited (the seller, a company wholly owned by Mr. Zhang Jinbing) to sign a share sale agreement on July 16, 2026 (before the trading session).

According to the agreement, the seller agreed to sell 300 million common shares of the Company to SBI CHINA FUND LP (buyer). These shares account for approximately 26.93% of the total issued share capital of the Company on the date of this announcement, at a price of HK$1 for each share sold.

Immediately before the sale was completed, the seller held 527 million shares of the Company, accounting for 48.43% of the total issued share capital of the Company, and was the controlling shareholder of the Company (see Listing Rules for definition).

Assuming that there is no change in the number of shares issued by the Company before the sale is completed, the number of shares of the Company held by the seller will be reduced to 227 million shares, accounting for 20.40% of the Company's total issued share capital.

Due to the sale, the seller's voting rights in the Company will be reduced to less than 30.00%. As a result, immediately following the completion of the sale, the seller will cease to be the controlling shareholder of the Company.

The Board anticipates that the sale will not adversely affect the business operations, financial position, or composition of the board of directors and senior management of the Company and its subsidiaries.