QUALI-SMART Holdings (01348) announced that its board has noted price fluctuations in the company's ordinary shares on the Hong Kong Stock Exchange on December 1, 2025. After conducting reasonable inquiries, the board confirmed no undisclosed reasons for the volatility, except as disclosed below.
The company’s chairman, executive director, and major shareholder Mr. Poon Pak Kee disclosed that Silver Pointer Limited (wholly owned by Mr. Poon), Smart Investor Holdings Limited (the controlling shareholder, with ~67.4% owned by Mr. Lau Ho Ming and ~32.6% by Ms. Li Min Yee), and Benefit Global Limited (wholly owned by Mr. Chu Shing Yu) (collectively, the "Selling Shareholders") entered a memorandum of understanding (MOU) on October 10, 2025, with an independent third-party buyer regarding the potential sale of 762 million shares, representing ~51.70% of the company’s issued share capital.
The potential buyer, Yael Capital Management Limited (a BVI-registered investment holding company wholly owned by Mr. Liu Chong), may proceed with the transaction subject to further negotiations and execution of a formal agreement. Under the MOU, the Selling Shareholders are restricted from negotiating with other parties until December 9, 2025 (exclusive period).
The buyer retains due diligence rights until December 9, 2025, and has deposited HK$7.8 million (refundable under certain conditions if no formal agreement is signed) into escrow accounts held by respective legal representatives.