MAJESTIC DRAGON Shareholder Transfers Holdings from Futu to Hong Chi Securities

Stock News

May 27

Latest information from the Hong Kong Stock Exchange reveals that on May 26, a shareholder of MAJESTIC DRAGON transferred a block of shares from Futu Securities International (Hong Kong) to Hong Chi Securities. The transferred position had a market value of approximately HKD 68.67 million, representing about 5.71% of the company's issued share capital.

In a related announcement, the board of MAJESTIC DRAGON disclosed that it received a notice from Always Profit Development Limited, a company wholly owned by the controlling shareholder Mr. Zhang Jinbing. Mr. Zhang holds approximately 527 million shares, equivalent to about 47.32% of the issued shares. The notice, on behalf of the "Potential Seller," indicated that a non-legally binding letter of intent has been signed with Beijing Qichen Investment Management Co., Ltd. regarding the potential sale of a certain number of the company's shares. Beijing Qichen is a venture capital management company registered with the Asset Management Association of China in 2019, acting as the "Potential Buyer" or facilitating the sale to another buyer. The indicative price per sale share is approximately HKD 0.5475.

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