Fengxiang privatization to proceed via cash merger, no share offer

Shandong Fengxiang Co., Ltd. (HKEX: 9977) announced that its proposed pre-conditional privatization by Jingyu Enterprise Development (Shandong) Co., Ltd. will proceed via a cash merger. This means H Shareholders and Domestic Shareholders (excluding Falcon Holding and Platinum Peony) will receive cash for their shares. The company will not pursue the potential share alternative offer which was previously considered. The privatization plan also includes the proposed withdrawal of the company's listing. Shandong Fengxiang and Jingyu Enterprise Development are continuing to work towards fulfilling the pre-conditions for the merger, and will make further announcements as appropriate.