WELLCELL HOLD (02477.HK): Substantial Shareholder Hang Fung Cuts 716mn Shares for About HK$107mn

NewTimeSpace News: On 21 October 2026, WellCell Holdings Co., Limited (the "Company") voluntarily announced that the board had been notified by Hang Fung International Holdings Limited ("Hang Fung"), a substantial shareholder of the Company (as defined in the Listing Rules), that on 21 October 2026 Hang Fung sold in the open market a total of 716,000,000 ordinary shares of the Company with a par value of HK$0.00125 each (the "Sale Shares"), representing approximately 14.93% of the issued share capital of the Company as at the date of the announcement, for a total consideration of approximately HK$106,958,970 (excluding transaction costs), at an average selling price (excluding transaction costs) of approximately HK$0.1494 per share. As the disposal was made in the open market, the identity of the buyers of the Sale Shares cannot be ascertained.

The announcement disclosed that, according to the advice and information provided by Hang Fung to the Company and to the best of the directors' knowledge, information and belief after making all reasonable enquiries, immediately before the disposal Hang Fung had a beneficial interest in 1,196,000,000 shares, representing 24.94% of the total issued share capital of the Company; 78.56% of the issued shares of Hang Fung are held by Mr. Qian Fenglei, an executive director of the Company and chairman of the Group.

The Company stated that, as at the date of the announcement and following completion of the disposal, the number of shares held by Hang Fung decreased from 1,196,000,000 shares to 480,000,000 shares, representing approximately 10.01% of the total issued share capital of the Company, and Hang Fung will remain a substantial shareholder of the Company. The board considers that the disposal will not have any adverse impact on the Group's business operations and future prospects. The Company also cautioned shareholders and potential investors to exercise caution when dealing in the Company's securities.