Shun Wo Group Holdings Limited (Stock Code: 1591) completed a share transfer within its controlling shareholder entity, May City Holdings Limited. According to the announcement, Mr. Lai sold his 30% shareholding interest in May City to Mr. Wong Yan Hung for HK$12,000,000. Following completion, May City remains the major shareholder holding 51% of the total issued share capital, with Mr. Wong’s stake in May City rising to 70% and Mr. Tony Wong holding the remaining 30%.

Pursuant to this change, Mr. Lai resigned as an Executive Director and Chief Operating Officer of Shun Wo Group Holdings Limited, effective 27 October 2025. Mr. Lai will assume a new role within an indirect wholly-owned subsidiary of the Company, focusing on electrical and mechanical works and plant maintenance. The announcement noted that the management and operations of the Company remain unaffected by the share transfer.