XH NEWS MEDIA (00309) proposes stock consolidation and changes to the minimum trading unit.

XH NEWS MEDIA (00309) announced that the Board of Directors has proposed a share consolidation, with a ratio of 40 existing issued and unissued shares with a par value of HK$0.01 each to be consolidated into 1 share with a par value of HK$0.40 each. The share consolidation is subject to approval by the shareholders at a special general meeting. As of the date of this announcement, the company's authorized share capital is HK$40 million, divided into 4 billion existing shares with a par value of HK$0.01 each, of which 1.931 billion shares have been issued and fully paid or credited as fully paid. After the share consolidation takes effect, and assuming no changes in the authorized share capital of the company from the date of this announcement until the effective date of the share consolidation, the authorized share capital of the company will remain at HK$40 million, divided into 100 million shares with a par value of HK$0.40 each, including 48.2767 million shares of the consolidated shares that have been issued. As of the date of this announcement, the existing shares are traded on the Stock Exchange of Hong Kong in board lots of 1000 shares. It is proposed that, upon the effectiveness of the share consolidation and subject to the relevant regulations, the board lot for trading on the Stock Exchange of Hong Kong will be changed from 1000 existing shares to 2000 consolidated shares.