CHINA HONGBAO (08316) signs debt waiver agreement with executive director Cheng Jun

19:29 27/03/2026

China Red Envelope (08316) announced that on March 27, 2026, Mr. Cheng Jun, an executive director and shareholder of the company holding approximately 18.89% of the issued shares, signed a debt waiver agreement. According to the debt waiver agreement, Mr. Cheng Jun irrevocably and unconditionally waives the company's total debt to him of approximately HK$20.1 million (including principal and accrued interest).

CHINA HONGBAO (08316) announces that on March 27, 2026, the company and Executive Director and shareholder Mr. Cheng Jun, who holds approximately 18.89% of the issued shares of the company, signed a debt waiver agreement. According to the debt waiver agreement, Mr. Cheng Jun irrevocably and unconditionally waives the company's total debt of approximately HKD 20.1 million (including principal and related accrued interest, if any). The Board believes that signing the debt waiver agreement is in the overall interest of the company and all its shareholders, and will help improve the Group's financial position.

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