Hengxin Technology (1085) Revises and Renews Annual Caps for Continuing Connected Transactions

Bulletin Express10-31

Hengxin Technology Ltd. (1085) announced updates regarding its continuing connected transactions with Hengtong Group and Hengtong Optic-Electric, focusing on revisions to existing annual caps and the introduction of new caps for the years ending 31 December 2025 and 31 December 2026. The existing cap for purchases in 2025 (RMB253 million) will be revised upward to RMB560 million, with the same figure set for 2026. For sales, the original 2025 cap of RMB71.9 million will be revised to RMB127 million, while the cap for 2026 will be RMB150 million. According to the announcement, the higher limits accommodate the rising volumes in the procurement of materials and the sales of products and scrap materials.

Under the new arrangements, Jiangsu Hengxin, a wholly owned subsidiary of Hengxin Technology, will continue purchasing raw materials such as copper tape and other items from the connected parties at market-competitive terms. Meanwhile, it will also supply certain telecommunications products and related scrap materials. Given that the highest applicable percentage ratios under both the purchase and sales agreements exceed 5% with transaction values surpassing HK$10 million, independent shareholders’ approval will be sought at an extraordinary general meeting. The announcement further indicates that the company will dispatch a circular containing detailed terms and proposals to shareholders on or before 21 November 2025, with Gram Capital appointed as the independent financial adviser for these transactions.

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(1085) announced updates regarding its continuing connected transactions with Hengtong Group and Hengtong Optic-Electric, focusing on revisions to existing annual caps and the introduction of new caps for the years ending 31 December 2025 and 31 December 2026. The existing cap for purchases in 2025 (RMB253 million) will be revised upward to RMB560 million, with the same figure set for 2026. For sales, the original 2025 cap of RMB71.9 million will be revised to RMB127 million, while the cap for 2026 will be RMB150 million. According to the announcement, the higher limits accommodate the rising volumes in the procurement of materials and the sales of products and scrap materials.</p>\n<p>Under the new arrangements, Jiangsu Hengxin, a wholly owned subsidiary of Hengxin Technology, will continue purchasing raw materials such as copper tape and other items from the connected parties at market-competitive terms. 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