According to the Zhitong Finance App, Guangqi Science (00439) announced that the company intends to merge every 10 issued and unissued existing shares in the company's share capital into 1 consolidated share; and merge every 10 issued and unissued preferred shares in the company's share capital into 1 consolidated preferred share (if any).

As of the date of this announcement, the company had 6.157 billion shares fully paid up or recorded as fully paid existing shares, and no preferred shares had been issued. Assuming that no other existing shares and preferred shares have been issued or repurchased from the date of this announcement until the date of the special shareholders' meeting, after the share consolidation takes effect, the authorized share capital of the company shall be HK$100 million, divided into 732 million consolidated shares with a face value of HK$0.10 per share and consolidated preferred shares of 268 million shares with a face value of HK$0.10 per share. Of these, 616 million consolidated shares will be issued and paid for, and no consolidated preferred shares will be issued.

At the date of this announcement, existing shares were traded on the Stock Exchange with 1,000 existing shares per lot. After the share consolidation takes effect and subject to this, it is proposed that each lot traded on the Stock Exchange be changed from 1,000 existing shares to 2,000 consolidated shares. Based on the closing price of HK$0.127 per existing share reported on the Stock Exchange on the date of this announcement, the trading unit value for each lot of 2,000 consolidated shares is HK$2,540 (assuming the share consolidation has taken effect).