Wai Chun Group Holdings Limited (01013) has announced that on February 23, 2026, the company received a sealed judgment dated February 13, 2026, issued by the Court of First Instance of the High Court of the Hong Kong Special Administrative Region against the company and Wei Jun Biotechnology Limited (the second defendant). The judgment stipulates that (i) the company and the second defendant must each pay HKD 2.6722 million to Quan Wei Limited (the plaintiff), plus interest on the amount calculated from September 7, 2023, at the Hongkong and Shanghai Banking Corporation's best lending rate plus 1% per annum, accruing until full payment is made; and (ii) the costs of the litigation, which have been certified by counsel and summarily assessed, amounting to HKD 111,000, are to be paid jointly by the company and the second defendant to the plaintiff immediately.

The sum of HKD 2.6722 million represents 50% of the total mesne profits, rent, rates, management fees, and air-conditioning charges for the entire property on the 13th floor of Tower 2, Admiralty Centre, 18 Harcourt Road, Hong Kong, for the period from September 16, 2022, to April 27, 2023. The Board of Directors believes that the amount of mesne profits claimed by the plaintiff is excessive and significantly above comparable market levels.

As of the date of this announcement, the company and the second defendant have submitted a notice of appeal to the Hong Kong High Court. In light of the above, the company is seeking legal advice to determine possible actions regarding the judgment to protect the interests of the company and its shareholders, including but not limited to applying for a stay of execution and submitting evidence for the appeal.