Hong Kong Lianfeng Property Co., Limited (“Offeror”) and Asia Grocery Distribution Limited (“Company”, stock code: 8413) jointly announced an update related to the pre-conditional voluntary cash partial offer first disclosed on 10 December 2025. The Offeror seeks to acquire up to 755.30 million Offer Shares in the Company through TFI Securities and Futures Limited and Shenwan Hongyuan Capital (H.K.) Limited, acting on behalf of the Offeror. Earlier announcements dated 24 December 2025 and 31 December 2025 covered the satisfaction of Pre-Condition (a) and the delay in dispatch of the Composite Document, respectively. A further monthly update was issued on 30 January 2026.

As of 27 February 2026, the Offeror has submitted an application to the State-owned Assets Supervision and Administration Commission of the Hubei Provincial People’s Government (SASAC) to fulfill Pre-Condition (b). This submission remains under review, and the Offeror continues to work toward meeting all Pre-Conditions before the Pre-Condition Long Stop Date.

In view of the announcement on 31 December 2025 regarding dispatch arrangements, the Executive has consented to extend the deadline for sending out the Composite Document to either within seven days after all Pre-Conditions are satisfied or 18 June 2026, whichever is earlier. The Offeror and the Company are currently preparing the required information for inclusion in that document.

The partial offer is subject to the satisfaction of remaining Pre-Conditions as well as subsequent Conditions. It may or may not become unconditional. Shareholders and potential investors are therefore reminded to exercise caution when dealing in the Company’s shares.

According to the announcement, the directors of the Company accept full responsibility for the information it contains (other than information relating to the Offeror and its concert parties), while the sole director of the Offeror and the directors of Hubei Agricultural Development Group accept full responsibility for the information related to those parties. They confirm that all statements are made after due and careful consideration and that there are no other facts which would make any statement in the announcement misleading.