CR ASIA (00831) receives sale of 312 million shares by controlling shareholder Fung Retailing

CR ASIA (00831) announces that the Board was notified by the Company's controlling shareholder, Fung Retailing Group Limited (Fung Retailing), that on 22 September 2026, Fung Retailing sold to Lotus Peak Investments Limited (Lotus Peak) all of its 312 million ordinary shares of HK$0.10 each in the Company (Shares), representing approximately 39.86% of the total number of issued shares of the Company as at the date of this announcement, at a total consideration of HK$140 million (equivalent to HK$0.45 per Share). On the same day, the Board was further notified by Lotus Peak and Dr. William Fung Kwok Lun (Dr. Fung) that, in addition to the above disposal by Fung Retailing, Dr. Fung has transferred 90 million Shares held by him personally (representing approximately 11.51% of the total number of issued shares of the Company as at the date of this announcement) to Lotus Peak at a total consideration of HK$40.5 million (equivalent to HK$0.45 per Share). Immediately upon completion of the two transactions described in this announcement (Transactions), Lotus Peak holds an aggregate of 402 million Shares, representing approximately 51.37% of the total number of issued shares of the Company. The Board has been informed that Lotus Peak is a private company, 90.00% of which is owned by Dr. Fung, with the remaining 10.00% held by Madam Fung Shum Nai Ki (spouse of Dr. Victor Fung Kwok King). Upon completion of the above share transfers, Fung Retailing no longer holds any Shares. Accordingly, Lotus Peak has become the controlling shareholder of the Company, and King Lun, Fung Retailing and Fung Holdings (1937) Limited have ceased to be controlling shareholders of the Company.