HUAQIN (03296.HK) chairman Qiu Wensheng plans RMB10 million H share purchase from 29 October

NewTimeSpace News: On 28 October, Huaqin Co., Ltd. (HUAQIN, 03296.HK; 603296.SH) published a voluntary announcement that the board has been informed by Mr Qiu Wensheng, chairman and general manager, that he plans to increase his direct shareholding in the company using his own funds. Mr Qiu currently holds 68,604,456 shares directly, comprising 68,314,456 A shares and 290,000 H shares, representing 4.5259% of the total number of issued shares (the percentage calculation includes the 7,835,445 A shares repurchased by the company as at the date of the announcement).

Under the plan, Mr Qiu intends to increase his direct holding of H shares from 29 October 2026 (including that date) for three months, with the aggregate amount for the H shares to be purchased set at RMB10,000,000, and an implementation period from 29 October 2026 to 28 January 2027. The purchases will be made through the trading system of the Stock Exchange by way of on-market bidding; no price range has been set, the consideration will be determined according to prevailing market conditions, and there is no price cap. Mr Qiu has undertaken that he will not dispose of his direct shareholding during the implementation period and the relevant statutory restriction periods under applicable laws and regulations.

Mr Qiu said the proposed increase in his H shareholding is based on his confidence in the company's future stable development and his recognition of the company's long-term investment value, and that the plan is intended to boost investor confidence and protect shareholders' interests. The company also cautioned that the plan may not be fully implemented as expected due to changes in market conditions or other risks that cannot currently be foreseen. The company stated that the increase must comply with the Securities Law, the Administrative Measures for Takeover of Listed Companies and the SSE Listing Rules, will not affect the company's listing status, will not result in a shareholding distribution inconsistent with the relevant listing conditions, and will not cause any change in the company's controlling shareholder or actual controller.