On June 25, Gelunhui announced that New Concepts (02221.HK) proposed to increase the company's statutory capital, according to the company's board of directors.

As of the announcement date, the company's existing statutory capital was HKD 200 million, divided into 2 billion shares of HKD 0.10 per share. As of the announcement date, 1,606,132,134 shares have been issued and 393,867,866 shares have been authorized but not yet issued.

In order to make the company's fundraising more flexible and promote future business growth, the board of directors proposes to increase the company's statutory capital from HKD 200 million (divided into 2 billion shares of HKD 0.10 per share) to HKD 400 million (divided into 4 billion shares of HKD 0.10 per share) by issuing an additional 2 billion new undistributed shares. Once issued, the new shares will enjoy equal status with existing shares in all respects. The board of directors believes that increasing the company's statutory capital is in the overall interest of the company and its shareholders.