The Weijun Group (01013.HK) announced plans for a capital reorganization, including reducing the par value of existing ordinary shares from HKD 0.8 to HKD 0.01; immediately following the capital reduction, the statutory but unissued shares with a par value of HKD 0.8 will be split into 80 new shares, each with a par value of HKD 0.01.

The company believes that the amount recognized from the capital reduction after the capital reorganization takes effect will be used to offset its accumulated losses as of the effective date of the capital reorganization.

In addition, the company will convene and hold a special meeting of shareholders to allow shareholders to consider and approve the necessary resolutions regarding the capital reorganization and the proposed trades under it at their discretion. The effective date of the capital reorganization is expected to be January 10 of next year.