Gelonghui April 20 丨Weiyuan Holdings (01343.HK) announced that the board of directors of the company was informed by WGI BVI, the controlling shareholder of the company, that WGI BVI had entered into a placement agreement with SoftBank China Financial Services Limited (“Placement Agent”) on April 20, 2023. According to the placement agreement, the placement agent has agreed to use a best-effort basis to induce the buyer to purchase up to 255 million of the company's existing shares held by WGI BVI at a price not less than HK$0.1 per share of the Company from the date of the placement agreement until May 11, 2023 (or such other date as may be agreed by the parties to the placement agreement), equivalent to 24% of the company's current issued share capital on the date of announcement.

Immediately after the completion of the placement and assuming that all the placed shares are placed to the grantor, (i) the number of shares held by WGI BVI will be reduced to 543 million shares, equivalent to 51% of the company's current issued share capital at the date of announcement; and (ii) WGI BVI will continue to be the controlling shareholder of the company.