Gelonghui, April 11 | Xinji Shaxi (03603.HK) announced that the board of directors of the company learned that on April 10, 2024, the price of the company's shares fell and the trading volume increased.
The Company was informed by executive directors and controlling shareholders Mei Zuoting and Zhang Weixin that a total of 212,346,000 shares of the Company's common shares (“shares”) with a face value of HK$0.01 per share (“shares”) (accounting for about 14.16% of the Company's total issued share capital at the date of announcement) were forcibly sold (“forced sale”) by the securities company on April 10, 2024 through a margin securities account. Following the completion of the mandatory sale and as of the announcement date, (i) Mei Zuoting, Zhang Weixin and Zhang Hanquan (that is, the total shares of the company held by those acting in concert have been reduced from about 52.19% to about 38.04% of the company's total issued share capital; and (ii) Mei Zuoting, Zhang Weixin, and Zhang Hanquan are still controlling shareholders of the company. Zhang Hanquan is the company's executive director and chairman.
Furthermore, the company has applied to the Stock Exchange to resume trading of the company's shares on the Stock Exchange, effective from 9:00 a.m. on April 12, 2024.