Well Link Securities Holdings Limited (Stock code: 8350) has announced that its indirect wholly-owned subsidiary, Well Link Securities Limited, entered into supplemental agreements to provide brokerage services to Banco Well Link and Well Link Life. The services fall under ongoing connected transactions pursuant to Chapter 20 of the GEM Listing Rules, reflecting the common control of all three entities by a controlling shareholder, Mr. Xu Chujia. According to the company, Well Link Fintech holds 54.55% of Well Link Securities Holdings and is itself held as to 97% by Mr. Xu, while Banco Well Link and Well Link Life are also majority-owned or fully controlled by Mr. Xu through other holding structures.

The brokerage services will last three years for each of the two new supplemental agreements, commence on 22 October 2025, and include two distinct commission rates depending on the counterparties: Banco Well Link pays 0.014% for electronic cash trading, and Well Link Life pays 0.05% for delivery-versus-payment trading. Based on an historical commission income of HK$3.96 million (from 1 January 2024 to 31 December 2024) and market conditions, the company has set aggregated annual caps of HK$3.5 million for three consecutive 12-month periods from 22 October 2025 to 21 October 2028.

Because one or more of the relevant percentage ratios exceeds 5% but the total consideration is below HK$10 million, the transactions require reporting, announcement, and annual review under Chapter 20 of the GEM Listing Rules but are exempt from circular and shareholders’ approval. The board considers the terms fair and reasonable, noting that providing services to institutional clients like Banco Well Link and Well Link Life supports ordinary business, boosts potential profit, and enhances the group’s market image. No director abstained from voting on these transactions, and the company will monitor the aggregated annual caps annually to determine if any revisions are necessary.