ILUVATAR COREX (09903) Begins Trading Ex-Rights Following Bonus Issue

Shares of ILUVATAR COREX (09903) are trading on an ex-rights basis today after the company's bonus issue resolution was approved at a special general meeting on September 10. The company is capitalizing its share reserves to issue new shares. Under the plan, shareholders will receive 2 new shares for every 1 existing share held, a move designed to optimize the company's capital structure and strengthen its foundation for capital market operations. Trading today reflects the adjusted ex-rights price. The newly issued H shares are expected to be dispatched on September 22 and begin listing and trading on September 23.

This bonus issue represents a standard equity adjustment method in the Hong Kong market, where the company utilizes its share reserves to capitalize and distribute new shares. Existing shareholders are not required to make any cash payments to receive the additional shares. Based on the terms, every 1 existing share held will convert to 3 shares in total after the issuance—meaning an investor holding 1,000 shares will see their holdings increase to 3,000 shares once the new stock begins trading. The share price will be adjusted proportionally to one-third of the original price after the ex-rights date, theoretically keeping shareholders' market value unchanged. This operation does not dilute shareholder equity.

Where this benefits the company, the bonus issue is expected to produce several positive outcomes for ILUVATAR COREX. First, it lowers the entry threshold for each board lot of H shares, enhancing liquidity in the secondary market. With the reduced post-ex-rights price, the capital required for individual investors to participate decreases, potentially broadening the investor base, expanding the shareholder registry, and boosting trading activity. Second, it increases registered capital, unlocking greater flexibility for capital operations. A larger registered capital base helps the company more easily meet statutory thresholds for equity and debt financing, reduces procedural constraints, and preserves room for future capital maneuvers. Third, the rise in registered capital can improve market perceptions of the company's financial strength, enhance its commercial credibility with partners, and strengthen its competitiveness in securing and maintaining business collaborations.