GILSTON GROUP (02011) has announced details regarding the passing of substantial shareholder Mr. Wu Jingming, and an application by Mr. Wu Zhuoxuan (an executive director and the nephew of the late Mr. Wu) to inherit all of the issued shares in Central Eagle from Mr. Wu Jingming's estate.

Mr. Wu Zhuoxuan's application for inheritance has been approved by the Eastern Caribbean Supreme Court of the British Virgin Islands, and the transfer of all issued shares in Central Eagle, along with all related inheritance procedures, was completed on January 9, 2026. Consequently, Mr. Wu Zhuoxuan has inherited and obtained all of the issued shares in Central Eagle.

As of the date of this announcement, Central Eagle directly holds 139,197,663 shares in the Company, representing approximately 24.23% of the Company's total issued share capital. Following the completion of the inheritance, Mr. Wu Zhuoxuan has become the sole shareholder of Central Eagle and is therefore a substantial shareholder of the Company (as defined in the Listing Rules).

The Board of Directors has confirmed that the inheritance has not had any adverse impact on the Group's operations or its overall development.