CHINA HEALTH (00673): Former non-executive director Ying Wei is interested in subscribing for the company's new shares.

China Health (00673) announced that on November 13, 2024, the company entered into a non-legally binding letter of intent with Yingcai Limited (potential investor), who expressed their intention to subscribe for new ordinary shares (subscription shares) of the company in an amount not less than HK$50 million in total (possible subscription matters). The potential investor's sole shareholder is Mr. Ying Wei, who served as a non-executive director of the company from June 2016 to May 2018, and currently holds 16.2119 million ordinary shares of the company (approximately 3.3% of the total number of ordinary shares issued by the company) as of the date of this announcement. According to the directors, after conducting all reasonable inquiries, they are convinced, beyond any doubt, that, apart from the aforementioned, the potential investor and its sole shareholder are independent third parties unrelated to the company and its affiliates. According to the letter of intent, the parties will make every effort to further negotiate and finalize the terms of the possible subscription matters, including but not limited to the subscription price and number of subscription shares, and to enter into a formal and legally binding agreement on the possible subscription matters as soon as practicable. The target of the parties to the letter of intent is to complete the possible subscription matters within 90 days from the date of the letter of intent.