A director affiliated with China Red Packet (08316) is temporarily out of touch

According to Zhitong Finance App News, China Red Packet (08316) announced that Mr. Wu Yuexiang, a director of Yuanwei New Materials Holdings Limited (Yuanwei, incorporated in Hong Kong and engaged in construction business), an indirect wholly-owned subsidiary of the company, has temporarily lost contact. As disclosed in the company's annual report for the year ended March 31, 2025, the construction division generated approximately HK$46.2 million in revenue for the year ended March 31, 2025, accounting for about 57.1% of the Group's total revenue. The Group has sent personnel to Yuanwei's office and discovered that far all of its desktop computers and operating and accounting documents had been removed by unknown persons. The group has reported the matter to the Hong Kong police.

Mr. Yu Hua, another director and executive director of Yuanwei, is currently evaluating the situation where Yuanwei's other assets and documents have been taken, gathering necessary information, and conducting internal investigations to identify those who may have removed such assets and documents. As a result, the Group's construction division operations have been suspended. The Group is also seeking professional legal advice, including but not limited to measures taken to minimize the Group's potential losses.