HK Stock Market Move | MAN SHUN GP (01746) falls by nearly 37%, involving the failure of the memorandum of understanding on change of control and the end of the takeover offer period.

MAN SHUN GP (01746) falls by nearly 37%, as of the time of writing, down 36.9% to HK$0.265, with a turnover of HK$3.2019 million. In terms of news, MAN SHUN GP announced this morning that the memorandum of understanding it previously signed with a potential buyer has expired on February 28, 2026. According to the terms of the memorandum, the potential buyer was required to pay a deposit within one month of signing (by February 28, 2026), but as of that date, the deposit had not been paid, resulting in the automatic termination of the memorandum of understanding. The expiration of the memorandum also means that the offer period for the potential transaction ends on March 2nd. The board of directors stated that this event has no significant adverse impact on the group's financial condition and business operations, and the group will continue to focus on its existing business and future development. On January 29, MAN SHUN GP had announced that Chairman and Executive Director Zhang Yuan Tong and Executive Director Zhang Yuan Qiu, holding shares in Prime Pinnacle Limited as the controlling shareholder and seller, may sell their 75% stake to an independent third party Winsun Special Assets International Co., Ltd. as the potential buyer. A memorandum of understanding was signed for the potential transaction, with the potential buyer conducting due diligence and paying a deposit of HK$20 million to the seller within one month.