The controlling shareholder of Yingmei Holdings (02028) plans to reduce its holdings of the company's shares by 120 million to 445 million shares

Zhitong Finance App News, Yingmei Holdings (02028) issued an announcement. The company's board of directors was informed by Mr. Ou Baixian, the executive director and chairman of the board of directors, and Jiang Yu Holding Group Co., Ltd. (the seller) (the controlling shareholder of the Company, an indirect wholly-owned company controlled by Mr. Ou Pak-yin) that the seller had signed a placement agreement with a placement agent dated September 4, 2026 (after the trading period). According to the directors' knowledge, knowledge and conviction after making all reasonable inquiries, the placement agent and its ultimate beneficial owner are all independent third parties independent of the Company, its subsidiaries and related persons, and not related to them.

According to the placement agreement, the seller has appointed a placement agent as its agent, and the placing agent has agreed to act as the seller's agent to induce investors (undertakers) and not associated with or acting in concert with the above parties) to acquire no less than 120 million shares (shares) of the Company and up to 445 million shares held by the seller (accounting for approximately 51.85% of the Company's current issued share capital and all shares held by the seller as of the date of this announcement) (placement shares) at a price of not less than HK$0.55 per share (placement shares)). The placement agent further agreed to use its best efforts to induce the consignee to subscribe for the placement shares and promised the seller that no undertaker (individually or with any person acting in concert with the undertaker) shall hold 30% or more of the total issued share capital of the Company immediately following the completion of the placement. In accordance with the terms and conditions set out in the placement agreement, the placement is expected to be completed no later than September 25, 2026.

Immediately after the placement is completed and assuming that all placed shares are successfully placed to the undertaker, the seller will no longer hold any shares and will therefore no longer be the controlling shareholder of the Company.

The Board does not anticipate that the placement will have any impact on the business or operations of the Company and its subsidiaries.