HUAJIN INTL (02738) controlling shareholder intends to reduce a total of 174 million issued shares of the company.

HUAJIN INTL (02738) announces that the Board has been informed by Mr. Xu Songqing (Mr. Xu), an executive director, the chairman of the Board and the controlling shareholder of the Company, that on 14 September 2026, Haiyi Limited (Haiyi), the controlling shareholder of the Company and indirectly wholly owned by Mr. Xu, conducted an off-market placing through a placing agent to sell a total of 174 million issued shares of the Company (the Shares) (the Disposal) to several placees, representing approximately 29.00% of the total issued share capital of the Company as at the date of this announcement, at an average selling price of approximately HK$0.038 per Share. Based on all reasonable enquiries made by Mr. Xu, to the best of his knowledge, information and belief, each of the placees and their ultimate beneficial owners is an Independent Third Party and is not connected with the Company and its connected persons (as defined in the Listing Rules). Having made all reasonable enquiries, the Company is not aware of the identities of the placees and their respective principal business activities. The Board expects that the Disposal will not have a material impact on the business operations, financial position and management structure of the Group, nor will it affect the normal business development and daily operations of the Company. Immediately following the completion of the Disposal, the shares of the Company held by Haiyi decreased from 391.5 million shares (representing approximately 65.25% of the total number of issued shares of the Company) to 217.5 million shares (representing approximately 36.25% of the total number of issued shares of the Company). Haiyi remains the controlling shareholder of the Company. As at the date of this announcement, the entire issued share capital of Haiyi is legally and beneficially owned by Intrend Ventures Limited, and the entire issued share capital of Intrend Ventures Limited is legally and beneficially owned by Mr. Xu. For the purposes of the Securities and Futures Ordinance, both Mr. Xu and Intrend Ventures Limited are deemed to be interested in all the shares of the Company held by Haiyi.