MAJESTIC DRAGON(00918): Shareholder Zhang Jinbing sells 300 million shares.

MAJESTIC DRAGON (00918) announced that the Board of Directors of the company has received a notification from Always Profit Development Limited (the Seller, a company wholly owned by Mr. Zhang Jinbing) on July 16, 2026 (before the trading session) regarding the signing of a share purchase agreement. According to the agreement, the Seller has agreed to sell 300 million ordinary shares of the company to SBI CHINA FUND LP (the Buyer), representing approximately 26.93% of the total issued share capital of the company as of the date of this announcement, at a price of HK$1 per share. Prior to the completion of the sale, the Seller holds 527 million shares of the company, representing 48.43% of the total issued share capital of the company and is the controlling shareholder of the company (as defined in the Listing Rules). Assuming that the total number of shares issued by the company remains unchanged before the completion of the sale, the Seller's holdings in the company will be reduced to 227 million shares, representing 20.40% of the total issued share capital of the company after the completion of the sale. Due to the sale, the Seller's voting rights in the company will decrease to below 30.00%. Therefore, after the completion of the sale, the Seller will no longer be the controlling shareholder of the company. The Board of Directors expects that the sale will not have any adverse effects on the business operations, financial condition, or the composition of the Board and senior management of the company and its subsidiaries.