China Hongguang (08646): Proposed increase in authorized share capital

Zhitong Finance App News, China Hongguang (08646) issued an announcement. The board of directors of China Hongguang Holdings Limited (the Company, together with its subsidiaries, collectively referred to as the Group) proposed increasing the Company's authorized share capital from HK$10 million (divided into 1 billion shares of the Company with a face value of HK$0.01 per share) to HK$20 million (divided into 2 billion shares) by adding an additional 1 billion shares. Once these shares are distributed and issued, they will enjoy the same status as existing shares in all aspects (increase the authorized share capital).

As of the date of this announcement, the number of issued shares was 783 million, and the number of statutory but unissued shares was 217 million. To address the Group's potential growth and development and provide the Company with greater flexibility when raising capital in the future, the Board believes that increasing the authorized share capital is in the overall interest of the Company and its shareholders (shareholders).