South China Financial Holdings Limited (619) has announced a connected transaction involving the proposed alteration of terms related to its HK$89,840,000 convertible bonds originally due on 12 January 2026. According to a circular, the company agreed with Thousand China Investments Limited, an indirect wholly owned subsidiary of South China Holdings Limited (413), to extend the maturity date by three years from 2026 to 12 January 2029, alongside an interest rate increase from 1% per annum (up to the existing maturity) to 2% per annum starting from the fourth year until the new maturity date.

The circular further indicates a decrease in the conversion price from HK$0.32 to HK$0.28 per share, subject to the bond’s adjustment provisions. Upon full conversion at the revised price, the potential allotment would represent approximately 51.57% of the company’s enlarged share capital. These amendments remain conditional on independent shareholder approval at an extraordinary general meeting scheduled for 12 January 2026, relevant regulatory consents, and the Stock Exchange’s approval for the listing of the resulting shares.