Hongji Group (02535) received a discount of about 82.35% and offered a full purchase offer to resume trading on August 5

According to the Zhitong Finance App, Hongji Group (02535) and the offender WellLuck Limited jointly announced that the offender completed the acquisition of 780 million shares of the company from WK (BVI) Limited on July 30, 2026, accounting for 39% of the company's total issued share capital at the date of this joint announcement. The total cash cost was HK$70.2 million, equivalent to HK$0.09 per share to be sold.

Following completion and as of the date of this Joint Announcement, the Offeror, its ultimate beneficial owner (i.e. Mr. Chen Yongqiang), and the concerted actors of any of them held a total interest in 780 million shares (39% of the total issued share capital of the Company). The settlement will make an offer on behalf of the offeror in accordance with Rule 26.1 of the Takeovers Code to acquire all the shares offered at an offer price of HK$0.09 per share, a discount of approximately 82.35% from the closing price of HK$0.510 per share reported on the Stock Exchange on July 29, 2026 (the last trading day). If all offers are accepted, the total cost of the offer will be HK$109.8 million.

Furthermore, the company has applied to the Stock Exchange to resume trading of shares on the Stock Exchange starting at 9:00 a.m. on August 5, 2026.

As of the date of this Joint Announcement, the Offeror is wholly and beneficially owned by Mr. Chen Yongqiang. Mr. Chen Yongqiang has extensive business experience in the energy trade and real estate development industry. He was an executive director of the Rockefeller Family Foundation (Rockwell Foundation) and commercial director of the Burj Khalifa (Burj Khalifa) in Dubai.