HC Group disclosed that the board of its indirectly held subsidiary, Beijing Panpass Information Technology, has approved a proposal to seek shareholder consent for terminating the quotation of Beijing Panpass shares on the National Equities Exchange and Quotation (NEEQ).

If the proposal is approved, Beijing Panpass intends to launch a protective share-repurchase programme for dissenting and miscellaneous minority shareholders. The buy-back price will be set at either the shareholders’ original purchase cost (net of brokerage and financing expenses and adjusted for any ex-rights or ex-dividend events) or at Beijing Panpass’s per-share net asset value, whichever applies. Final pricing and execution details will be negotiated with eligible shareholders after shareholder approval is obtained.

Under Hong Kong listing rules, the contemplated delisting and related share repurchase would constitute a notifiable transaction for HC Group, requiring further disclosure and the approval of HC Group shareholders.

Trading in HC Group shares has been suspended since 18 March 2026 pending additional announcements. The company cautioned investors that the proposal remains subject to change and may not proceed.