According to Zhitong Finance App, Weilu Technology Co., Ltd. (01196) issued an announcement. The board of directors has received a notice from Merrill Lynch Holdings Limited (Merrill Lynch Holdings), the majority shareholder of the Company. After the trading session on July 28, 2026, Merrill Lynch Holdings sold 170 million shares of the Company to Great Ploy Investment Limited (buyer), accounting for about 11.79% of the total issued share capital of the Company, at a cost of HK$850 million (sale matters).
Immediately prior to the sale, Merrill Lynch Holdings held 903 million shares, accounting for about 62.62% of the company's total issued share capital. The buyer did not hold any shares immediately prior to the sale.
After the sale, Merrill Lynch Holdings held 733 million shares, accounting for about 50.83% of the company's total issued share capital.
As of the date of this announcement, Merrill Lynch Holdings is 70% owned by Dr. Lin Xiaohui, Chairman and Executive Director of the Company, and 30% is owned by Ms. Su Jiaohua, the Company's executive director.
The buyer was a limited company incorporated in the British Virgin Islands and wholly owned by Mr. Chen Zhen. According to Merrill Lynch Holdings, Mr. Chen has extensive experience in equity investment and has a strong business network. The Board understood that the buyer's acquisition of shares was a strategic investment. Merrill Lynch Holdings further informed the Board that it knew, fully understood and believed that prior to the sale, the buyer was an independent third party to the Company and its related parties.