WELLCELL HOLD (02477) receives sale of a total of 716 million shares by major shareholder Hengfeng

WELLCELL HOLD (02477) announces that the Board of Directors of the Company has been notified by Hengfeng International Holdings Limited ("Hengfeng"), a substantial shareholder of the Company, that on October 21, 2026, Hengfeng sold in the open market an aggregate of 716 million ordinary shares of the Company with a par value of HK$0.00125 each, representing approximately 14.93% of the issued share capital of the Company as at the date of this announcement, at a total consideration of approximately HK$107 million (excluding transaction costs). The average selling price of the disposal (excluding transaction costs) was approximately HK$0.1494 per share. As the disposal was conducted in the open market, the identity of the buyers of the sold shares cannot be determined. Prior to the disposal, Hengfeng had a beneficial interest in 1.196 billion shares, representing 24.94% of the total issued share capital of the Company. The issued shares of Hengfeng are held as to 78.56% by Mr. Qian Fenglei, an executive Director of the Company and the chairman of the Group. As at the date of this announcement and upon completion of the disposal, the number of shares held by Hengfeng decreased from 1.196 billion shares to 480 million shares, representing approximately 10.01% of the total issued share capital of the Company, and Hengfeng will continue to be a substantial shareholder of the Company.