Jinke Smart Services faces revised cash offer, potential delisting

Broad Gongga Investment Pte. Ltd., through China International Capital Corporation Hong Kong Securities Limited (CICC), has issued a revised unconditional mandatory cash offer to acquire all offer shares in Jinke Smart Services Group. The base offer price is HK$6.67 per share. An enhanced offer price of HK$8.69 per share is contingent on the approval of a delisting resolution at an EGM and the satisfaction of a delisting acceptance condition, requiring at least 90% valid acceptances of disinterested shares.

The total maximum payable by the offeror would be approximately HK$1,785,706,100.18 at the base offer price or HK$2,326,504,649.26 at the enhanced offer price, assuming no further shares are issued. Trading in Jinke Smart Services shares, suspended since 23 October 2025, is scheduled to resume on 18 November 2025.

Shareholders have the option to reinvest cash proceeds into Top Yingchun Investment IV if both delisting conditions are met, providing an indirect interest in the company post-delisting. The revised composite document is expected to be dispatched around 28 November 2025, with the offer closing date extended to 26 January 2026.