TR INTERIORS (06162.HK): Proposes 40-to-1 Share Consolidation, Board Lot to 1,000 Shares

NewTimeSpace News: On 21 September 2026, China Tianrui Automotive Interiors Co., Ltd. (stock code: 06162) announced that the Board proposes to implement a share consolidation on the basis that every forty (40) issued and unissued existing shares be consolidated into one (1) consolidated share. As at the date of the announcement, the issued and fully paid or credited as fully paid existing shares numbered 2,400,000,000; assuming no further shares are issued from the date of the announcement up to the date of the extraordinary general meeting, there will be 60,000,000 consolidated shares upon the share consolidation becoming effective. The Company's authorised share capital will remain at HKD 100,000,000 but will be divided into 250,000,000 consolidated shares of HKD 0.4 each.

The Company also proposes that, upon the share consolidation becoming effective, the board lot for trading on the Stock Exchange be changed from 8,000 existing shares to 1,000 consolidated shares. Based on the closing price of HKD 0.070 per existing share on the date of the announcement (equivalent to a theoretical closing price of HKD 2.80 per consolidated share), the board lot of existing shares has a market value of HKD 560, while the estimated market value of a board lot of 1,000 consolidated shares would be HKD 2,800.

The share consolidation is conditional upon shareholders approving it by ordinary resolution at an extraordinary general meeting, the Stock Exchange granting approval for the listing of and permission to deal in the consolidated shares, and compliance with all relevant procedures and requirements under Cayman Islands law and the Listing Rules. As at the date of the announcement, none of these conditions has been fulfilled; subject to fulfilment, the effective date of the share consolidation is currently expected to be 23 October 2026.

The Board considers that the shares have been trading at the extreme price point, as the closing price has remained at or below HKD 0.10 per existing share since 13 August 2026, requiring action under Rule 13.64 of the Listing Rules. A circular containing further details of the share consolidation and the change in board lot, together with a notice of the extraordinary general meeting, is expected to be despatched to shareholders on or before 30 September 2026.

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