FU SHOU YUAN (01448.HK): Gong Hailin Makes Unconditional Partial Offer at HK$ 0.1 per Share for Up to 115 Million Shares

NewTimeSpace News: On 18 September 2026, Fu Shou Yuan International Group Limited (stock code: 01448) published an offer document under which Gold Diamond Securities Limited, on behalf of the offeror Gong Hailin, makes an unconditional voluntary cash partial offer to acquire up to 115,000,000 offer shares at HK$ 0.1 per share, representing approximately 4.96% of the Company's issued share capital. The offeror and parties acting in concert with her held no shares of the Company. Assuming full acceptance, the total cash consideration will be HK$ 11,500,000, to be funded from her internal resources.

The partial offer is unconditional in all respects and, once made, is not subject to any acceptance level. The offer period commenced on 1 September 2026 and the latest time for acceptance is 4:00 p.m. on 16 October 2026. If valid acceptances relate to more than 115,000,000 offer shares, the offeror will acquire shares from each accepting shareholder on a pro rata basis in accordance with a formula, and the total number acquired will not exceed that maximum.

The offer price represents a discount of approximately 96.21% to the closing price of HK$ 2.64 per share on the last trading day and a discount of approximately 96.47% to the net asset value attributable to owners of the Company of HK$ 2.83 per share as at 31 December 2024. As at the last practicable date, the Company had 2,319,863,422 shares in issue and a public float of approximately 65.37%, above the 25% requirement under Rule 13.32B of the Listing Rules.

Trading in the shares has been suspended since 20 March 2026; under Rule 6.01A(1) of the Listing Rules, the Stock Exchange may cancel the listing of any securities that have been suspended from trading for 18 consecutive months, a period that will expire on 19 September 2027. The Executive consented to the partial offer on 14 September 2026 and granted waivers in respect of an offer price representing a discount of more than 50% to the market price and a partial offer for a specified range of shares. The offeror's financial adviser, First Sealing Capital Group, is satisfied that the offeror has sufficient financial resources to pay the maximum consideration.

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