China Tontine Wines Group Limited (Tontine Wines) disclosed that individual investor Wang He (the Offeror) plans to launch a pre-conditional voluntary cash partial offer for 56.32 million shares, equivalent to 18.68% of the company’s 301.56 million issued shares.

As at 13 August 2026, Wang He and parties acting in concert already held 33.84 million shares, or 11.22% of Tontine Wines’ issued capital. Completion of the intended purchase would raise their aggregate stake to 29.90%, just below the 30% threshold that would otherwise trigger a mandatory general offer under Hong Kong’s Takeovers Code.

The partial offer will be made to all shareholders other than the Offeror and his concert parties (“Qualifying Shareholders”) and is subject to pre-conditions outlined in the Offer Document yet to be despatched. An Independent Board Committee—comprising all non-executive directors and independent non-executive directors with no involvement in the transaction—has been established to evaluate the terms and advise shareholders. An independent financial adviser will be appointed shortly, with a formal response document to be issued within 14 days after the Offer Document’s release, unless the Takeovers Code permits a later date.

Directors Li Jerry Y. and Zhu Minghui jointly own 37.5% of Sky Source International Investments Limited and 49% of Up Mount International Limited, giving each deemed interests in 50.08 million Tontine Wines shares, or 16.61% of the company. Non-executive director Guo Yuxin and the three independent non-executive directors reported no holdings in the company and no involvement with the partial offer.

Trading in Tontine Wines shares was halted on 7 August 2026 pending this disclosure and will resume on 24 August 2026 at 9:00 a.m. Shareholders and potential investors are urged to exercise caution when dealing in the company’s securities and to await the forthcoming response document along with the opinions of the Independent Board Committee and the independent financial adviser.