HAO TIAN INTL (01341) proposes a "5-to-1" benchmark merger of shares.

HAO TIAN INTL (01341) announced that the board of directors has proposed a stock consolidation, which involves consolidating every 5 existing and unissued shares with a par value of HK$0.01 per share into 1 consolidated share with a par value of HK$0.05 per share. The stock consolidation must be approved by shareholders at a special general meeting through an ordinary resolution before it can take effect. Currently, shares are traded on the Stock Exchange of Hong Kong in units of 8,000 shares per lot. After the stock consolidation takes effect, the trading unit for the consolidated shares will remain at 8,000 shares per lot. As of the date of this announcement, the company's authorized share capital is HK$200 million, divided into 20 billion existing shares with a par value of HK$0.01 per share, of which 11.095 billion shares have been issued and fully paid or credited as fully paid. After the stock consolidation takes effect, assuming there are no changes in the number of shares issued between the date of this announcement and the effective date of the stock consolidation, the company's authorized share capital will be HK$200 million, divided into 4 billion shares with a par value of HK$0.05 per share, of which 2.219 billion consolidated shares (fully paid or credited as fully paid) will be issued shares. As of the date of this announcement, 8,000 existing shares are traded on the Stock Exchange of Hong Kong. It is proposed that, subject to the implementation of the stock consolidation, the trading unit on the Stock Exchange of Hong Kong be changed from 8,000 existing shares to 10,000 consolidated shares.