XINMING CHINA (02699): 752 million shares of shares to be issued are completed, with 188 million shares sold and convertible bonds transferred settled.

Xinming China (02699) announced that on January 16, 2025, the company was informed by the administrator that on January 8, 2025 (after trading hours), the seller (acting as an authorized person by the administrator under the power granted by the pledge without assuming personal responsibility), the administrator, and the placing agent entered into a subscription agreement. According to this agreement, the placing agent sold a total of 7.52 billion shares held by the seller at the subscription price per share to subscribers (equivalent to approximately 40.04% of the company's issued share capital as of January 8, 2025). On January 16, 2025, the company was informed by the administrator that on January 13, 2025, the placing agent successfully placed all 7.52 billion shares of subscription shares at a subscription price of HK$0.011 per share. The 7.52 billion shares subscribed under the subscription represent approximately 40.04% of the company's issued share capital as of the announcement date. On January 16, 2025, the company was informed by the administrator that on January 9, 2025 (after trading hours), the seller (acting as an authorized person by the administrator under the power granted by the pledge without assuming personal responsibility), the administrator, and the buyer entered into a share sale agreement. According to this agreement, the seller (acting as an authorized person by the administrator under the power granted by the pledge without assuming personal responsibility) and the buyer agreed to sell and purchase a total of 188 million shares at a total price of HK$1.9837 million (equivalent to approximately 10.00% of the company's issued share capital as of January 8, 2025). The company was further informed by the administrator that the share sale was completed on January 16, 2025. Following the share sale, the buyer, Motivational Mathematics, held a total of 188 million shares, representing 10.00% of the company's issued share capital, and became a major shareholder of the company. On January 16, 2025, the company was informed by Chance Talent that on January 15, 2025, the seller of convertible bonds transferred the convertible bonds without any restrictions to the buyer, Motivational Mathematics, at a total price of HK$31.5 million, including all accompanying rights and benefits. Following the share sale and convertible bonds transfer, Motivational Mathematics held a total of 188 million shares as of the announcement date, representing 10.00% of the company's issued share capital, and after fully exercising the conversion rights attached to the convertible bonds, Motivational Mathematics will hold an interest in 404 million shares, representing approximately 19.27% of the company's expanded issued share capital.