Subsidiary of Xiamen Jihong Package Technology (02603) adjusts fund share categories. After redeeming $19 million, they will repurchase $9 million.

Xiamen Jihong Package Technology (02603) announced that Xiamen Jihong Technology Co., Ltd. (hereinafter referred to as the "Company") held the 24th meeting of the fifth session of the board of directors on November 19, 2024, and approved the "Proposal on the Participation of Wholly-Owned Subsidiaries in the Subscription of Investment Fund Shares". The Company agreed that its wholly-owned subsidiary, Hong Kong Jihong Technology Co., Ltd. (hereinafter referred to as "Hong Kong Jihong"), would use its own funds of 18 million US dollars to subscribe to the investment fund shares of Novus Spectrum Growth I Fund, a subsidiary fund of Novus Spectrum Growth OFC, an open-ended fund company in Hong Kong. Hong Kong Jihong recently submitted an application to the fund manager, New Vision Capital Limited, to adjust the category of the fund shares it holds. By redeeming the original shares and then subscribing again, Hong Kong Jihong optimized its investment allocation structure. Specifically, Hong Kong Jihong first redeemed all its Class B shares, with a total settlement amount of approximately 19 million US dollars (the preliminary calculation by the finance department indicates an annualized investment return rate of about 4.3% for this redemption). Hong Kong Jihong then used 9 million US dollars from this amount to subscribe for Class A shares of the fund. This transaction essentially involves the conversion of shares between different categories under the same fund. Compared to the original Class B category, the Class A category provides stronger protection in terms of asset allocation priority and priority return rights. According to arrangements by the fund manager, the fund has paid the net difference of 10 million US dollars from the new subscription to Hong Kong Jihong's bank account. The wholly-owned subsidiary of the Company, Hong Kong Jihong, still holds investment shares in the Novus Spectrum Growth I Fund amounting to 9 million US dollars.