CHANGHONG JH received a premium of approximately 32.93% from Changhong Group for privatization and will resume trading on September 23

According to the Zhitong Finance APP, CHANGHONG JH (03991) and the offeror Hongtu Investment Co., Ltd. jointly announced that on September 22, 2025, the offeror entered into an implementation agreement with the company, under which the offeror requires the company to present a proposal to the planned shareholders. If the proposal is approved and implemented, the company will be privatized by the offeror through the plan, and the listing status of the ordinary shares on the Stock Exchange will be revoked. The company has applied to the Stock Exchange to resume trading of ordinary shares at 9:00 AM on September 23, 2025.

According to the proposal, if the plan takes effect, all planned shares will be canceled in exchange for a planned price of HKD 1.223 per planned share, which represents a premium of approximately 32.93% over the closing price of HKD 0.920 per ordinary share on the last trading day. As of the date of this joint announcement, there are approximately 580 million planned shares, with a total valuation of approximately HKD 709 million.

It is reported that as of the date of this joint announcement, the offeror is a special purpose company directly owned by Changhong Group (which is 90% and 10% owned by the State-owned Assets Supervision and Administration Commission of Mianyang City and the Sichuan Provincial Department of Finance, respectively). As the single largest shareholder of Sichuan Changhong, Changhong Group effectively has control over the composition of the majority of the board members of Sichuan Changhong. Therefore, Sichuan Changhong is a subsidiary of Changhong Group, which in turn controls Anjian and Changhong Hong Kong, including the ordinary shares held by Anjian and Changhong Hong Kong