On June 11th, Gelon Hui announced that it had issued 58,032,000 shares as of the record date, and the maximum number of shares to be issued based on the rights issue is 232,128,000.

As of 4 pm on June 3rd, 2024 (Monday), the deadline for acceptance, a total of 3 valid applications involving a total of 11,729,391 shares of rights issue were received, accounting for approximately 5.05% of the total shares under the rights issue. Therefore, 220,399,609 shares of rights issue subscription are undersubscribed.

According to the above valid acceptances and applications, the total number of undersubscribed shares of rights issue restricted to compensation arrangements under Rule 7.21(1) of the Listing Rules will be 220,399,609 shares, accounting for approximately 94.95% of the total shares under the rights issue. As disclosed in the rights issue circular, the company has formulated arrangements for the disposal of undersubscribed shares of rights issue in accordance with Rule 7.21(1)(b) of the Listing Rules, and will submit such shares to the independent placing agent in the interests of non-exercising shareholders. The company has appointed a placing agent to use its best efforts to induce the independent placing agent to subscribe for the undersubscribed shares of rights issue at a price not less than the subscription price in accordance with the terms and conditions of the placement agreement. It is expected that the placement will commence on June 12th, 2024 (Wednesday) and end at 4 pm on June 19th, 2024 (Wednesday).