WECON HOLDINGS (01793): Abnormal fluctuations in stock price, controlling shareholder may sell 75% of the company's shares, resuming trading on August 21.

WECON HOLDINGS (01793) announced that the company's board of directors has noted unusual price fluctuations of its shares recently on the Stock Exchange. After reasonable inquiries into the company under the circumstances at that time, the board confirmed that, except for the disclosures below, it is not aware of any reasons that might have led to such price movements, nor any information that should be announced to avoid creating a false market, or any inside information that must be disclosed under Section XIVA of the Securities and Futures Ordinance. According to Mr. Zeng Jiaye, the company's Chairman, Chief Executive Officer, Executive Director, and controlling shareholder, Triple Arch Limited (the potential seller), wholly owned by Mr. Zeng Jiaye, entered into a non-binding memorandum of understanding with Talent Pool Group Limited (the potential buyer) on August 19, 2026, regarding the potential sale of a total of 600 million shares (accounting for 75% of the company's total issued share capital as of the date of this announcement) held by the potential seller. The potential buyer is a limited company incorporated in the British Virgin Islands, primarily engaged in investment holding business. The potential buyer is an independent third party, not connected with the company or its associates. As of the date of this announcement, the potential seller holds a total of 600 million shares, representing 75% of the company's issued share capital. Should the potential transaction materialize, it would result in a change of control of the company and trigger a mandatory general offer under Rule 26.1 of the Takeovers Code. As of the date of this announcement, no formal agreement has been entered into regarding the potential transaction, and relevant negotiations are still ongoing; thus, the potential transaction may not materialize. In addition, the company has applied to the Stock Exchange for the resumption of trading of its shares from 9:00 a.m. on August 21, 2026.