Genesis Scale Holdings Limited (00439) has announced a possible very substantial disposal involving the sale of up to 40,799,936 shares in Kuang-Chi Technologies Co., Ltd. (KCT), representing 1.89% of KCT’s total shares in issue. The company intends to complete these disposals within a 12-month period, either through open-market transactions on the Shenzhen Stock Exchange or via block trades, subject to a minimum selling price of RMB33.56 per KCT share.

Previously, Genesis Scale Holdings disposed of 3,893,724 KCT shares and received approximately RMB186 million in net proceeds. The announcement indicates that if the ongoing disposals, when aggregated with the earlier share sales, lead to an applicable percentage ratio of 75% or more under the Listing Rules, the transactions would be classified as a very substantial disposal. A circular outlining further details, including the required shareholder approval for the KCT Share Sales Mandate, is expected to be published on or before 6 March 2026. Genesis Scale Holdings notes that execution of these sales remains subject to market conditions and offers no assurance that all KCT shares will ultimately be sold within the anticipated timeframe.