Summary by Moomoo AI
PERONGYUAN WAS ESTABLISHED ON MARCH 11, 2024 AND COMPLETED THE SHARE CHANGES, INCLUDING THE REPURCHASE AND WRITE-DOWN OF 17,176,500 SHARES OF CLASS B ORDINARY SHARES AND THE CONVERSION OF 2,706,069 CLASS A SHARES INTO CLASS B SHARES. This share change is disclosed as required by the Securities Listing Rules of the Hong Kong Stock Exchange Limited. The repurchased Class B ordinary shares were repurchased on the exchange from April 27, 2023 to February 22, 2024 and delisted on March 11, 2024. After the write-down, the number of issued Class B ordinary shares in Bai Rongzok decreased to 412,862,603 shares. AT THE SAME TIME, UNDER THE LISTING RULES, DIFFERENT VOTING RIGHTS BENEFICIARIES PROPORTIONALLY REDUCE THEIR DIFFERENT VOTING RIGHTS IN THE COMPANY, CONVERTING CLASS A SHARES TO CLASS B SHARES TO ENSURE THAT THE PROPORTION OF DIFFERENT VOTING RIGHTS SHARES DOES NOT INCREASE. After conversion, the outstanding amount of Class A ordinary shares is 77,208,112 shares. The Company confirms that all relevant legal procedures have been followed and all monies due have been collected.