Lates News

Lihong Inspection Announcement The buyer (Lihong Inspection Group Limited, an indirect wholly-owned subsidiary of Lihong Inspection) and the seller have entered into a share transfer agreement. The buyer agrees to purchase 45% of the equity of the target company held by the seller for a total price of RMB 50 million (equivalent to approximately HKD 53,500,000). After the transaction is completed, the target company will become an indirect wholly-owned subsidiary of Lihong Inspection. The seller is the major shareholder of the target company and a related party of Lihong Inspection at the subsidiary level. The transaction must comply with the declaration and announcement requirements under Chapter 14A of the Listing Rules, but is exempt from compliance with the requirements for circulars, independent financial advice, and shareholder approval.