BWI INT'L (02339) has announced that it was informed by its controlling shareholder, Jingxi Zhixing Group, that on March 31, 2026, the seller, guarantor, Luxshare Precision Industry Co.,Ltd., and Jingxi Zhixing Group entered into a sale and purchase agreement. Under this agreement, Luxshare Precision conditionally agreed to acquire, and the seller conditionally agreed to sell, the entire equity interest in Jingxi Zhixing Group, subject to the terms of the agreement. As of the date of this announcement, Jingxi Zhixing Group holds over 50% of the issued voting shares of Jingxi Zhixing (Beijing) Automotive Electronics Technology Co., Ltd. (Jingxi Beijing). Jingxi Beijing, through its wholly-owned subsidiary, has an interest in a total of approximately 769 million shares, representing about 59.50% of the total issued shares of BWI INT'L. Should this potential acquisition be completed, Luxshare Precision would indirectly hold approximately 59.50% of the total issued shares of BWI INT'L and become its ultimate controlling shareholder. Luxshare Precision has applied to the Securities and Futures Commission for a confirmation to waive the obligation under Note 8 to Rule 26.1 of the Takeovers Code (the chain principle) to make a general offer for BWI INT'L. The Executive has indicated its intention to grant this confirmation. The company has applied to the Stock Exchange for the resumption of trading of its shares, effective from 9:00 a.m. on May 11, 2026.
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