According to the Zhitong Finance App, Shell Electric (02381) and the offender Xingzhao Holdings Co., Ltd. jointly announced that on July 31, 2026, the offender plans to acquire 1.4 billion shares from Shell Electric Holdings Co., Ltd., accounting for 70% of the total number of shares issued on the date of this joint announcement. The total cost is HK$154 million, equivalent to HK$0.11 per share sold.

Furthermore, the company plans to declare a special dividend of approximately HK$91.5 million (equivalent to a special dividend of HK$0.04575 per share) prior to completion.

Immediately after completion, the offeror and those acting in concert with the offeror (excluding the seller) will hold 1.4 billion shares (equivalent to 70% of the total number of shares issued on the date of this joint announcement). The offeror must make a mandatory unconditional cash offer for all issued shares (other than shares already owned and/or agreed to be acquired by the offeror and the person acting in concert with the offeror). HK$0.11 in cash for each offered share is approximately 65.63% off the closing price of HK$0.320 per share as reported on the Stock Exchange on the last trading day.

As of the date of this joint announcement, the offender is wholly owned by Shenzhen Tianlong Mobile Technology Co., Ltd. (Tianlong Mobile), which is mainly engaged in R&D, manufacturing and sales of telecommunications equipment and electronic products.

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