Wuxing City Investment HK Company Limited made an offer to acquire remaining stake in Honworld Group Limited (SEHK:2226) for approximately HKD 180 million on September 28, 2023. As part of the offer Wuxing City Investment will acquire total of 348,408,000 Shares will be subject to the Offer, based on the Offer Price of HKD 0.5034 per Offer Share and on the basis of full acceptance of the Offer, the maximum payment obligations payable for the Offer by Wuxing City Investment would be HKD 175,388,587. As at the date of this joint announcement, Wuxing City Investment, its ultimate beneficial owner and their respective parties acting in concert own 230,342,000 Shares, representing approximately 39.80% of the total issued Shares of Honworld Group as at the date of this joint announcement.

CITIC Securities (Hong Kong) Limited acted as financial adviser to Wuxing City Investment HK. Maxa Capital Limited acted as the independent financial adviser to Honworld Group.