Broad Gongga launches cash offer for Jinke Smart Services at HK$6.67 per share

Broad Gongga Investment has launched an unconditional mandatory cash offer for Jinke Smart Services Group Co. at HK$6.67 per offer share. This follows the completion of the auction shares transfer on September 18, 2025, which raised Broad Gongga's and its concert parties' combined stake to approximately 55.91% of Jinke Smart Services' issued share capital. The offer price represents a discount to recent closing and average share prices, including a 0.15% discount to the HK$6.68 closing price on September 24, 2025 (latest practicable date), but a premium of 8.64% over the December 31, 2024 net asset value per share.

The offer is open for acceptance until 4:00 p.m. on Friday, October 17, 2025, with remittances dispatched within seven business days of valid acceptance. The independent board committee, advised by Red Sun Capital, recommends shareholders consider market prices and accept if the offer exceeds net proceeds from open market sales.

Jinke Smart Services reported a profit attributable to owners of RMB65.0 million for the six months ended June 30, 2025, a turnaround from the RMB194.4 million loss in the prior corresponding period. The offeror intends to maintain existing businesses and employment, without major changes to the group's operations.