On May 20, GLONGHUI (09923.HK) announced that the company disclosed in its 2023 annual report that the Group's revenue was affected by non-recurring revenue adjustments. The impact is expected to end in the first half of 2024 and revenue will not be further reduced in the second half of 2024. Furthermore, the Group is undergoing a strategic upgrade. While ensuring the high-quality development of payment services, the Group is also gradually improving the synergy effects of its business lines and commercialization capabilities for other value-added services. The Group has initially formed an overseas layout, operating in Singapore, the United States and Hong Kong, China, and is further expanding its overseas footprint. Finally, management is confident about the future of the Group.
Mr. Liu Yingqi, the founder of the Group and Chairman and CEO of the company, has increased his holdings of the company's shares by a total of 661,200 shares since April 12, 2024, accounting for approximately 0.15% of the issued shares as of the date of this announcement. Meanwhile, in April 2024, the company purchased and cancelled 6.25% convertible bonds with a total principal amount of 15 million US dollars due in 2027, accounting for about 21.4% of the principal amount of the convertible bonds originally issued.