JIHONG CO (02603) Subsidiary Adjusts Fund Share Classes, Redeems $19M and Re-subscribes $9M

Stock News2025-12-22

Xiamen Jihong Co., Ltd. (02603) announced that its wholly-owned subsidiary, Hong Kong Jihong Technology Co., Ltd., has adjusted its investment in the Novus Spectrum Growth I Fund, a sub-fund of Hong Kong open-ended fund company Novus Spectrum Growth OFC.

The subsidiary recently submitted an application to the fund manager, Novus Capital Limited, to optimize its investment structure by redeeming all its Class B shares totaling approximately $19 million (with an estimated annualized return of 4.3%) and subsequently re-subscribing $9 million worth of Class A shares.

The transaction essentially represents a conversion between different share classes within the same fund. Compared to Class B shares, Class A shares offer stronger protection in terms of asset allocation priority and preferential return rights. Following the adjustment, the fund manager has transferred the net difference of $10 million to Hong Kong Jihong's bank account.

The subsidiary maintains a $9 million investment in Novus Spectrum Growth I Fund after this restructuring.

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