Hongtu Investment Co., Limited (the Offeror) and Changhong Jiahua Holdings Limited (the Company, stock code: 3991) released a monthly update on the proposed privatisation of the Company by way of a scheme of arrangement under section 99 of the Companies Act 1981 of Bermuda. The announcement noted that the Offeror has continued to pursue the relevant regulatory filings necessary to satisfy the non-waivable pre-conditions required for the transaction.

According to the announcement, the Offeror submitted filings to Mianyang City SASAC, the Sichuan Provincial Development and Reform Commission, and the Sichuan Provincial Department of Commerce. These steps follow previous disclosures regarding the approval process with various authorities, including the State Administration of Foreign Exchange of the PRC. All stated pre-conditions remain outstanding as of the announcement date.

The announcement also addressed the latest status of the Scheme Document. The regulatory timetable allows an extension for despatching the Scheme Document to a date no later than seven days after all remaining pre-conditions have been satisfied or 27 September 2026, whichever is earlier. Further updates will be issued concerning the satisfaction of the pre-conditions and the despatch of the Scheme Document.

The parties reiterated that completion of the proposal and the scheme of arrangement is subject to obtaining the necessary regulatory clearances and meeting all specified conditions, and there can be no assurance of completion until these conditions are fully met.