REDCO HEALTHY (02370): There is currently no information available on how the pledged shares will be handled in the event of the forced execution by the administrator.

REDCO HEALTHY (02370) announced that on December 31, 2025, the company received a letter from Mr. Li Yinglin, as the joint and several trustees and managers of 1.5 billion shares pledged by the company (equivalent to 75% of the total number of shares issued by the company as of the date of this announcement) (the pledged shares). Mr. Ma Demin and Mr. Li Yinglin were appointed as the joint and several trustees and managers of the pledged shares on December 25, 2025 (the appointment). The letter states that as part of a financing agreement under which Liqiang Real Estate Group Limited (the borrower) and Standard Chartered Bank (Hong Kong) Limited (the agent) and Minggao International Holdings Limited (Minggao, the company's direct holding company) (as the pledgor) have pledged the pledged shares to Standard Chartered Bank to secure a financing of USD 150 million. The letter further indicates that Standard Chartered Bank subsequently assigned all rights and interests of the lenders under the financing and guarantee documents to HAITONG INT'L Capital (Hong Kong) Limited, with R&O Trust and Agency (HK) Limited (R&O) appointed as the financing and guarantee agent. Subsequently, Central International Limited (the lender) became the sole lender under the financing and guarantee documents as of December 22, 2025. The trustees were informed by the lender that a default event had occurred under the financing, which has not been rectified. Following the default event, the guarantee provided under the documents can be enforced immediately, and R&O (as the current financing and guarantee agent) has the right and has exercised the powers under the guarantee, including the right to appoint trustees for the pledged shares. According to the appointment, the trustees have the right to exercise all powers under the guarantee, including the right to manage the pledged shares in trustee's name, collect dividends from the pledged shares, and sell the pledged shares. As of the date of this announcement, the company has not received any information on how the trustees will handle the pledged shares upon enforcement. There is no indication that the trustees are actively seeking potential buyers for the pledged shares, nor have any discussions been held with potential buyers. The enforcement of the pledged shares by the trustees may result in a change of control of the company. The company will issue further announcements in accordance with the listing rules or upon receiving relevant information.