According to the Zhitong Finance App, Shangyu Group (01633.HK) and the offender Zhisheng Co., Ltd. jointly announced that on July 15, 2026, the offender completed the acquisition of about 502 million shares of the company, accounting for about 73.33% of the company's total issued share capital at the date of this joint announcement (without any property rights burden). The total cash cost was approximately HK$143 million (equivalent to HK$0.2848 per share sold). According to Rule 26.1 of the Takeovers Code, the offeror is therefore required to make a mandatory unconditional cash offer for all issued shares (other than those shares already owned or agreed to be acquired by the offeror, its ultimate beneficial owner or any person acting in concert with them) at HK$0.2848 per share at a discount of about HK$0.43 per share compared to the closing price of the shares reported on the Stock Exchange on the last trading day.

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