---
title: "WK GROUP is accused of placing 400 million shares by its controlling shareholder"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/255455628.md"
description: "WK GROUP announced that its controlling shareholder, Chen Yongkang, has reached a placement agreement with Hua Fu Jian Ye Securities Limited to place up to 400 million shares at a price not less than HKD 0.25 per share, accounting for 20% of the company's issued share capital. After the placement, the controlling shareholder's stake will be reduced to 31%, but it will still maintain a controlling position. The company expects that this placement will not have an adverse impact on its operations"
datetime: "2025-09-01T11:03:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/255455628.md)
  - [en](https://longbridge.com/en/news/255455628.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/255455628.md)
---

# WK GROUP is accused of placing 400 million shares by its controlling shareholder

According to the announcement from Zhitong Finance APP, WK GROUP (02535) announced that the company's board of directors was informed by Mr. Chen Yongkang, the chairman of the board, non-executive director, and controlling shareholder (as defined in the listing rules), that WK (BVI) Limited (the seller, a company legally and beneficially owned by Mr. Chen Xinjie, Mr. Chen Xinjian, Mr. Chen Yongkang, Ms. Cai Zhichang, and Ms. Chen Shuwen with 30%, 30%, 15%, 15%, and 10% interests respectively) has entered into a placement agreement with Huafu Jianye Securities Limited on September 1, 2025 (after trading hours), under which the placement agent has agreed to use its best efforts to facilitate investors to purchase up to 400 million existing shares of the company held by the seller at a price not less than HKD 0.25 per placement share.

As of the date of this announcement, the 400 million placement shares represent 20% of the company's existing issued share capital. Upon completion of the placement and assuming all placement shares are allocated to the subscribers, the seller's shareholding will be reduced to 620 million shares, accounting for 31% of the company's total issued share capital. Therefore, the seller will continue to be the controlling shareholder of the company.

The company expects that the placement will not have any adverse impact on the operations of the company and its subsidiaries

### Related Stocks

- [02535.HK](https://longbridge.com/en/quote/02535.HK.md)

## Related News & Research

- [China's Bilibili Q1 revenue rises on advertising growth](https://longbridge.com/en/news/286892124.md)
- [Hesai sustains profitability as LiDAR shipments surge and secures Mercedes order](https://longbridge.com/en/news/286887280.md)
- [Tencent Music completes $2.6 billion acquisition of podcast platform Ximalaya](https://longbridge.com/en/news/286841981.md)
- [Xiaomi EV reportedly taps new battery suppliers for second brand to target EREV market](https://longbridge.com/en/news/286843996.md)
- [Key facts: Reliance-CATL talks on batteries; ₹131.58cr LOI Jamnagar G+12](https://longbridge.com/en/news/286842723.md)