Gelonghui, July 16, 丨 Xingdao (01105.HK) issued an announcement. The board of directors was informed by He Zhuguo, the company's executive director, chairman of the board of directors and controlling shareholder that on July 16, 2020, Luckman Trading Limited (a company wholly owned by Zhu Guo) had completed a placement agreement with an independent placement agent. Based on this, the placement agent has agreed to place the sale, and Luckman Trading has agreed to sell 150 million shares of its existing company shares to several independent investors at a price of 1.50 per share Hong Kong dollars.

Following the completion of the placement, Ho Chu-kuo's indirect holding of the company's total controlling interest through Luckman Trading was reduced from 426,197,500 shares to 276,197,500 shares or from about 48.50% of the company's total issued shares to 31.43% on the date of the announcement, so He Zhuguo is still the controlling shareholder of the company through Luckman Trading.