TYCOON GROUP (03390): Major shareholder Wang Jiajun sells 129 million shares due to a significant drop in share price. Trading will resume on April 17th.

Tycoon Group (03390) announces that the Board of Directors has taken notice that on April 16, 2025, the price of the company's shares dropped while the trading volume increased. After appropriate inquiries were made to the directors, the company learned that 129 million shares of the company's common stock held by Tycoon Empire Investment Limited (Tycoon Empire), ultimately controlled by the company's executive director, board chairman, and controlling shareholder, Mr. Wang Jiayun, were sold by Tycoon Empire's stockbroker on April 16, 2025 at a significant decrease in the trading price on the Stock Exchange (forced sale). Apart from this disclosure, the directors are not aware of the reasons for the abnormal drop in share price. Following the completion of the forced sale and as of the date of this announcement, Mr. Wang Jiayun and Tycoon Empire collectively hold 302 million shares, representing 37.75% of the company's issued share capital. The company has also made inquiries to several other shareholders, namely Chinare Pharma Group Limited (03320)'s wholly-owned subsidiary Chinare Pharma Retail Group Limited (which currently holds 152 million shares, equivalent to approximately 18.99% of the issued share capital as of the date hereof) and Jacobson Pharma Limited (02633)'s wholly-owned subsidiary Jacobson Group Treasury Limited (which currently holds 56.59 million shares, equivalent to approximately 7.07% of the issued share capital as of the date hereof), and noted that they have not sold any shares recently. After making reasonable inquiries at the time, the Board of Directors confirms that, apart from the disclosures above, they are not aware of any reasons for the price and volume fluctuations, or any information that needs to be disclosed to prevent false market of the company's securities, or any insider information required to be disclosed under Part XIVA of the Securities and Futures Ordinance. In addition, the company has applied to the Stock Exchange for the resumption of trading of its shares starting from 9:00 am on April 17, 2025.