Hanx Biopharmaceuticals (Wuhan) Co., Ltd. has issued a circular convening its annual general meeting (AGM) for 24 June 2026 in Wuhan. Key resolutions to be put to shareholders are as follows:
1. Capital Authorisations • Issue Mandate: The Board seeks authority to allot, issue or transfer up to 20% of the Company’s issued H shares, equivalent to a maximum of 27.07 million shares based on the latest share count of 136.22 million (excluding 866,000 treasury shares). • Repurchase Mandate: The Company also requests approval to buy back up to 10% of its issued H shares, or 13.54 million shares, during the mandate period.
2. Articles Amendment and New Ancillary Business The Board proposes adding “non-residential real estate leasing” and “conference and exhibition services” to the Company’s scope of operations. The change will allow subleasing of roughly 1,500 sq m of idle space in its Wuhan headquarters, generating ancillary income without affecting pharmaceutical R&D activities.
3. Financial Items • 2025 Final Financial Report and 2026 Budget will be presented. • Profit Distribution: No dividend is proposed for 2025 as the Company reports no distributable profit. • Auditor: Ernst & Young is nominated for re-appointment with expected audit fees between RMB 2.08 million and RMB 2.28 million.
4. Governance Matters Shareholders will vote on the 2025 Board and Supervisory Committee reports, the 2026 Directors’ remuneration plan, and updated Articles reflecting the new business scope.
5. Treasury Share Activity Between end-March and late-May 2026, the Company repurchased 866,000 H shares on-market for an aggregate HK$25.82 million. These shares remain in treasury and may be cancelled, held or re-issued under the new mandates.
6. Shareholding Impact Controlling shareholders currently hold 56.25% of issued shares. Full utilisation of the buy-back mandate, absent other changes, would raise their stake to roughly 62.50%—still above the public-float requirement and below any threshold that would trigger a mandatory offer under Hong Kong’s Takeovers Code.
The register of members will close from 18 June to 24 June 2026 for AGM voting eligibility. Proxy forms must be lodged by 10:00 a.m. on 23 June 2026.
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