HUAJIN INTL (02738.HK): Controlling Shareholder Haiyi Places 174 Million Shares Off-Market, Stake Falls from 65.25% to 36.25%
- Immediately after completion of the disposal, Haiyi's shareholding decreased from 391,500,000 shares (approximately 65.25%) to 217,500,000 shares (approximately 36.25%), and Haiyi remains the controlling shareholder.
NewTimeSpace News: On 16 September 2026, Huajin International Holdings Limited (stock code: 02738.HK) announced that Haiyi Limited, indirectly wholly owned by Mr. Xu Songqing, an executive director, chairman of the Board and controlling shareholder of the Company, conducted an off-market placing through a placing agent on 14 September 2026, selling an aggregate of 174,000,000 issued shares of the Company to multiple placees, representing approximately 29.00% of the Company's total issued share capital as at the date of the announcement, at an average price of approximately HKD 0.038 per share.
The announcement disclosed that, immediately after completion of the disposal, Haiyi's shareholding in the Company decreased from 391,500,000 shares (representing approximately 65.25% of the total issued shares) to 217,500,000 shares (approximately 36.25%), and Haiyi remains the controlling shareholder of the Company. To the best of Mr. Xu's knowledge after making all reasonable enquiries, each placee and its ultimate beneficial owner are independent third parties not connected with the Company and its connected persons; the Company does not know the identity of the placees or their respective principal business activities. The Board expects that the disposal will not have a material impact on the Group's business operations, financial position or management structure, nor affect the Company's normal business development and daily operations.
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