Value Convergence Holdings Limited (VC Holdings, 00821) announced that between 14 May 2025 and 28 April 2026 it sold a total of 22.48 million shares in Virtual Mind Holding Company on the open market, generating cash proceeds of approximately HK$16.24 million. The average selling price was HK$0.7224 per share, and the divested stake represents about 2.37% of Virtual Mind’s issued share capital.

Following completion, VC Holdings retains 32.31 million Virtual Mind shares. Management indicated that additional sales may be considered and will comply with future Listing Rules requirements if undertaken.

Accounting Impact Based on an aggregated purchase cost of HK$20.75 million, the company expects to record an unaudited realised loss of roughly HK$4.51 million from the disposals.

Regulatory Classification Although each individual sale fell below disclosure thresholds, the transactions are aggregated under Listing Rule 14.22. The combined percentage ratios exceed 5% but remain under 25%, classifying the series as a discloseable transaction subject to reporting and announcement obligations.

Use of Proceeds Net cash of about HK$16.21 million, after expenses, will be applied to general working capital.

Background on Virtual Mind Virtual Mind is engaged in apparel design and trading, money-lending services, and IP application operations. For the year ended 31 December 2025, it reported revenue of HK$149.73 million and a net loss of HK$111.99 million, with an audited consolidated net asset value of HK$167.17 million at year-end 2025.

VC Holdings’ Core Operations The group provides securities brokerage, financing, corporate finance advisory, asset management and insurance brokerage services, in addition to proprietary trading and property investment. As at 31 December 2025, it held HK$86.10 million in Hong Kong-listed equity securities classified as financial assets held-for-trading.