Leo Group directors complete share reduction as H-share listing approved

Five directors and senior managers of Leo Group, including Zhang Xubo, Chen Linfu, Yan Tufu, Zheng Xiaodong, and Yang Hao, have completed their share reduction plan between July 7 and September 23, 2025. A total of 6,765,900 shares were reduced at an average price of between 5.48 yuan and 6.11 yuan per share. This move decreased their collective stake in the company by 0.10% of the total share capital after excluding repurchased shares.

Concurrently, Leo Group shareholders approved several resolutions at the first extraordinary general meeting of 2025 on September 23, 2025. A significant majority of shareholders, including small and medium investors, voted in favor of the company's plan to issue H-shares and list them on the Hong Kong Stock Exchange.

The approved H-share listing proposal encompasses details such as the listing location, issuance and listing timeline, issuance method, scale, pricing mechanism, target investors, and offering principles. Additionally, the meeting granted authorization to the board of directors to manage all aspects related to the H-share issuance and listing. Amendments to the company's articles of association and internal governance rules were also approved to align with the requirements of an H-share listed company.