According to the Zhitong Finance APP, SG GROUP HLDGS (01657) and the offeror Hong Kong Weiye Software Co., Ltd. jointly announced that on May 25, 2026, the seller and the offeror entered into a share purchase agreement for the sale of shares (i.e., 23.97 million shares, equivalent to approximately 74.91% of the total issued shares as of the share purchase agreement date and all equity interests held by the seller in the company), with a total cash consideration of approximately HKD 198.5 million.

Immediately following the completion, the offeror will hold rights to a total of 23.97 million shares, equivalent to approximately 74.91% of the total issued shares. According to Rule 26.1 of the Takeover Code, upon completion of the first batch of share sales, the offeror must make an unconditional mandatory cash offer for all issued shares (excluding those already owned by the offeror and persons acting in concert with the offeror and/or those agreed to be acquired). The cash offer price per share is HKD 8.323, representing a discount of approximately 72.26% compared to the closing price of HKD 30.00 per share reported on the last trading day on the Stock Exchange.

In addition, the company will apply to the Stock Exchange for the resumption of trading of its shares from 9:00 AM (Hong Kong time) on June 5, 2026 (Friday).

As of the date of this joint announcement, the offeror is wholly owned by Sifang Weiye. Sifang Group is a big data and artificial intelligence product and service provider headquartered in China, offering software solutions covering data collection, storage, analysis, and visualization to clients in industries such as government, energy, transportation, finance, and manufacturing in China (including Hong Kong)