China Smart Health (00348) Subsidiary Forced to Sell 2.646 Million Shares of Yunfeng Financial, Involving Approximately HK$9.2 Million

Stock News01-07

China Smart Health (00348) announced that a securities brokerage firm notified Future Empire Limited (Future Empire), an indirect wholly-owned subsidiary of the company, between January 5, 2026, and January 6, 2026, that it had forcibly sold a total of 2.646 million shares held by Future Empire in Yunfeng Financial Group Limited (a limited company incorporated in Hong Kong with its issued shares listed on the Main Board of The Stock Exchange of Hong Kong Limited (Stock Code: 376)). The total proceeds, before deducting transaction costs, amounted to approximately HK$9.2 million. Following the forced sale, the outstanding balance owed to the securities brokerage firm was reduced to zero. The forced sale was executed to settle the outstanding balance owed by Future Empire to the securities brokerage firm. According to the terms and conditions of the margin financing provided by the securities brokerage firm, if a default event occurs, the brokerage has the right to dispose of any or all securities held on behalf of the client and use the proceeds, along with any cash deposits, to settle all outstanding balances owed by the client. After the completion of the forced sale, Future Empire still holds 4.316 million shares of Yunfeng Financial with this securities brokerage firm.

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