Changhong Jiahua privatization advances with Mianyang SASAC approval

Hongtu Investment Co., Limited and Changhong Jiahua Holdings Limited jointly announced on December 24, 2025, that a pre-condition for the proposed privatization of Changhong Jiahua has been fulfilled. Approval from Mianyang City SASAC has been secured, marking a crucial step in the scheme of arrangement and the proposed withdrawal of listing.

This approval is one of several non-waivable pre-conditions necessary for the scheme's implementation. Other outstanding pre-conditions relate to approvals, registrations, filings, reports, and authorizations from the Sichuan Provincial Development and Reform Commission, Sichuan Provincial Department of Commerce, and the State Administration of Foreign Exchange of the PRC or its local authorities. The Offeror, Hongtu Investment Co., Limited, continues to work towards satisfying these remaining conditions.

The joint announcement reiterates that the proposal and scheme are subject to the satisfaction of all pre-conditions and conditions. Shareholders and potential investors are advised to exercise caution when dealing in Ordinary Shares, as the proposal may not be implemented or become effective. Further announcements will be made as appropriate upon the satisfaction of remaining pre-conditions and the dispatch of the Scheme Document.