Wenye Group Holdings Limited (1802) has entered into an underwriting agreement with GLAM Capital Limited to support a potential rights issue, subject to the outcome of a review and approvals from both shareholders and the Stock Exchange of Hong Kong. Under the agreement, up to 3,326,400,000 rights shares may be issued on the basis of four rights shares for every one existing share, at a subscription price of HK$0.045 per share.

The potential rights issue aims to raise gross proceeds of approximately HK$149.7 million, with around HK$80–90 million allocated for repaying outstanding debts and HK$60–70 million intended as general working capital. The plan would increase the total number of shares in issue from 831,600,000 to up to 4,158,000,000 upon completion, subject to shareholder approval for an increase in authorized share capital.

Key conditions include Stock Exchange listing approval, the outcome of the company’s review application of a recent Listing Committee decision, and the passing of relevant resolutions at an extraordinary general meeting tentatively scheduled for mid-February 2026. If granted, the issue of new rights shares is currently expected to be open to qualifying shareholders in March 2026, with the final deadline for the underwriting arrangement set for 18 March 2026.

According to the announcement, successful completion of the rights issue is projected to help strengthen the company’s net asset position, support future business contracts, and address concerns related to compliance with the Listing Rules. Shareholders and potential investors are encouraged to exercise caution when dealing in the company’s shares.