STRONG PETRO: Controlling Shareholder Agrees to Sell 49.06% Stake; Potential Mandatory General Offer Looms

Bulletin Express
Jun 02

1. Transaction Overview On 29 May 2026, the joint liquidators of Forever Winner International Ltd. (FWI)—the controlling shareholder of STRONG PETRO—signed a sale and purchase agreement with Speed Success Group Limited. The deal covers 1.04 billion ordinary shares, representing 49.06 % of STRONG PETRO’s issued share capital.

2. Buyer Profile Speed Success Group Limited is wholly owned by Mr. Wang Jian Sheng, who currently serves as a non-executive director of STRONG PETRO.

3. Regulatory Implications • Rule 26.1 of the Hong Kong Takeovers Code stipulates that acquisition of 30 % or more of a company triggers a mandatory general offer. Completion of the above transaction would therefore oblige Speed Success Group Limited to extend such an offer to remaining shareholders. • A detailed announcement in accordance with Rule 3.5 will be published once further particulars are available.

4. Trading Status Shares of STRONG PETRO have been suspended since 31 December 2024 and will remain so until further notice.

5. Risk Reminder The company emphasizes that there is no assurance the sale will complete or that a mandatory general offer will ultimately be triggered. Shareholders and potential investors are urged to exercise caution and seek professional advice when evaluating their positions.

Date of Board Announcement: 2 June 2026.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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