Weigang Holdings (01793.HK) Proposes Privatization and Delisting Through Scheme of Arrangement; Set to Resume Trading on March 17

Gelonghui, March 16 — Weigong Holdings (01793.HK) announced that the offeror, Triple Arch Limited, and the company jointly announced that on February 26, 2026, the offeror requested the board to present a proposal to the proposed shareholders to privatize the company through a scheme of arrangement under Section 86 of the Companies Law. The scheme will involve the cancellation of the scheme shares, payment of cash to the scheme shareholders at the cancellation price per canceled scheme share (as consideration), and the delisting of the shares from the Stock Exchange of Hong Kong.

The cancellation price is HKD 0.280 per scheme share, a premium of approximately 27.9% over the closing price of HKD 0.219 per share reported on the unimpeded day on the Stock Exchange. The offeror, a company incorporated in the British Virgin Islands, has been the controlling shareholder of the company since listing. The entire issued share capital of the offeror is ultimately beneficially owned by Zeng Jiaye.

Upon the scheme becoming effective, all scheme shares will be canceled and removed (while an equal number of new fully paid shares will be issued and credited to the offeror). The stock of the scheme shares will thereafter no longer have any ownership documents or certificates. The company will apply to the Stock Exchange for the cancellation of the listing of the shares under Rule 6.15 of the Listing Rules, effective from the date of the scheme’s effectiveness. Shareholders will be notified via announcement of the final trading date of the shares and the effective date of the scheme and delisting.

After implementing the proposal, the offeror intends to allow the group to continue operating its current business. The offeror has no intention to make any significant changes to the group’s business, including any major redeployment of fixed assets or significant changes to the ongoing employment of the group’s employees, except for ordinary course operational changes. The offeror will continue to monitor the group’s performance and implement appropriate strategies for the group and its business.

The company has applied to the Stock Exchange for the trading of its shares to resume from 9:00 a.m. on March 17, 2026.