China Innovation Investment Limited (1217) has issued an offer document on 4 November 2025 concerning a voluntary conditional cash partial offer to acquire 180,000,000 shares of eLife Holdings Limited (223), excluding those already owned or held in concert with the Offeror. The terms and conditions of the partial offer are outlined in the offer document, accompanied by a form of acceptance.

According to the announced schedule, the first closing date for acceptance is 22 December 2025, and the results as of that date are expected to be published by 7:00 p.m. on the same day. If the partial offer becomes or is declared unconditional on the first closing date, the final closing date will be 5 January 2026. The latest date to post remittances for valid acceptances of the partial offer received by the final closing date is 14 January 2026. The offeree document from eLife Holdings is expected to be distributed by 18 November 2025.

The partial offer may or may not become unconditional, subject to an acceptance threshold. If the condition is not met by 5 January 2026, the partial offer will lapse. Shareholders are advised to exercise caution when trading in eLife Holdings’ shares in light of the conditional nature of the offer.