Hong Kong-listed GR Life Style Company Limited (00108) announced that all conditions precedent for the Share SPA First Payment and Cash SPA First Payment were satisfied or waived, enabling transaction completion on 11 March 2026.

Immediately after completion, GR Life Style holds approximately 78.3 % of the Target Company’s equity. The Target Company now operates as an indirect non-wholly-owned subsidiary consolidated into the Group’s financial statements under existing VIE arrangements.

A second tranche—comprising the Share SPA Second Payment and Cash SPA Second Payment—is scheduled to close by end-May 2026, within five working days after confirmation that its specific conditions are fulfilled. Key remaining requirements include obtaining ODI approvals, establishing special-purpose vehicles and escrow arrangements. Consideration shares will be issued promptly after those conditions are met.

The board is chaired by Mr. Wei Chunxian, with Mr. Wei Laier, Mr. Sun Zhongmin, Mr. Tung Woon Cheung Eric, Ms. To Tsz Wan Vivien and Mr. Leung Louis Ho Ming serving as executive and independent non-executive directors.

The announcement confirms that Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited bear no responsibility for its contents.