Hing Lee (HK) Holdings Limited announced that eight existing shareholders, including Chairman and CEO Mr. Sung Kai Hing and other senior executives, have entered into a non-binding Memorandum of Understanding (MOU) with Guoxin Capital Holdings Limited for the possible sale of 471.61 million shares, representing approximately 58.36% of the company’s issued share capital.
The MOU, signed on 25 March 2026 after market close, grants the prospective buyer an exclusivity window of up to two months to negotiate a definitive sale-and-purchase agreement. Guoxin Capital, an investment holding company incorporated in the British Virgin Islands and ultimately owned by Ms. Li Yujun, has paid HK$5.00 million in non-refundable earnest money, refundable only if it is dissatisfied with the outcome of a mandatory due-diligence review to be completed within seven days.
If the transaction proceeds, Guoxin Capital would gain control of Hing Lee (HK), obliging it to launch a mandatory general offer under Rule 26.1 of Hong Kong’s Takeovers Code. As of the announcement date, Hing Lee (HK) has 808.10 million shares outstanding, with the concert group of potential vendors collectively holding the 58.36% block offered for sale.
Trading in Hing Lee (HK) shares was halted at 9:00 a.m. on 26 March 2026 due to unusual price movements and resumed at 9:00 a.m. on 27 March 2026 following publication of the announcement. The company will release monthly updates as required under Rule 3.7 of the Takeovers Code until either a firm offer is made or talks are terminated.
Management cautions that discussions remain preliminary and there is no assurance the potential transaction will be concluded. Shareholders and investors are advised to exercise caution when dealing in Hing Lee (HK) shares.
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