According to Zhitong Finance App, Higan Holdings (02885) and the offender Hong Kong Liye Group Limited jointly announced that on November 4, 2026, the offender plans to acquire 280 million shares from Higan Alpha Limited, accounting for 70.0% of the total issued share capital of the company on the date of this joint announcement. The total cash cost is HK$233.8 million, or HK$0.835 per share sold.

Immediately after completion, the offeror will have an interest in 280 million shares, accounting for about 70.0% of the total issued share capital on the date of this joint announcement. Accordingly, upon completion, the offeror must make a mandatory unconditional cash offer in accordance with Rule 26.1 of the Takeovers Code for all issued shares (other than those already owned and/or consented to the acquisition by the offeror, its ultimate beneficial owners, and any person acting in concert with them). The offer price of HK$0.835 in cash per share is approximately 26.75% off of the closing price of HK$1.140 per share as reported on the last trading day on the Stock Exchange.

Furthermore, the company has applied for the resumption of stock trading on the Stock Exchange starting at 9:00 a.m. on November 10, 2026.

According to reports, the offender is wholly owned by Shenzhen Liye, while Shenzhen Liye owns 99.9% of the rights and 0.1% of the rights, respectively, by Mr. Lin Li and Ms. Zhong Juqing.

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