MIXUE Group Announces Proposed H Share Full Circulation Plan

Key Highlights for Investors

• MIXUE Group has announced a proposed implementation of an H Share Full Circulation Plan, aiming to convert 22,823,988 domestic unlisted shares (approximately 6.01% of the total issued shares) into H shares tradable on the Main Board of the Hong Kong Stock Exchange.
• This move is made under the updated “Guidelines on Application for ‘Full Circulation’ of Domestic Unlisted Shares of H-share Companies” issued by the China Securities Regulatory Commission (CSRC), most recently amended in August 2023.
• The company has already submitted an application to the CSRC on April 30, 2026, to initiate this conversion process.

Details of the H Share Full Circulation Plan

The plan involves converting a significant portion of MIXUE Group’s domestic unlisted shares into H shares, thereby increasing the liquidity and tradability of these shares for both domestic and international investors. If approved, these converted shares will be listed and permitted for trading on the Hong Kong Stock Exchange.

• The conversion represents approximately 6.01% of the company’s total issued shares, a sizable potential addition to the public float.
• This initiative is designed to align with regulatory guidelines and enhance the transparency and accessibility of the Company’s equity to a broader range of investors.

Important Information for Shareholders

• No Further Shareholder Approval Required: According to the Company’s articles of association, the H Share Full Circulation does not require additional approval from shareholders.
• Regulatory Approvals Pending: As of the date of announcement, MIXUE Group has not yet completed the required filing with the CSRC, nor has it applied to the Hong Kong Stock Exchange for conversion and listing. The detailed implementation plan is still being finalized.
• Further Announcements Expected: The Company will provide updates on the progress and further details of the application process and share conversion as they become available.
• Price Sensitivity: The H Share Full Circulation and the increase in the number of tradable shares could impact share liquidity and possibly influence the share price, depending on market perception and demand for the newly listed H shares.

Potential Impact on Share Price

The announcement is significant and potentially price-sensitive. The addition of new H shares to the market could influence MIXUE Group’s share price by increasing supply and enhancing market liquidity. Investors should note that the final outcome and timing are subject to regulatory approvals, and no assurance can be given as to when, or if, the process will be completed.

Corporate Governance Update

• The Board currently comprises four executive directors (Mr. Zhang Hongchao, Mr. Zhang Hongfu, Ms. Cai Weimiao, Ms. Zhao Hongguo) and three independent non-executive directors (Ms. Poon Philana Wai Yin, Mr. Chu Gary Hsi, Mr. Huang Sidney Xuande).
• The announcement was authorized for issue by Co-Chairman and Executive Director, Mr. Zhang Hongfu, on May 3, 2026.

Next Steps

• Completion of the CSRC filing procedures.
• Submission of the application to the Hong Kong Stock Exchange for the conversion and listing of the new H shares.
• Finalization of the implementation plan and further disclosures to shareholders and the market.

Investor Advisory

This development is subject to the regulatory procedures and approvals required by both the CSRC and the Hong Kong Stock Exchange, as well as other relevant domestic and overseas authorities. Shareholders and potential investors are strongly advised to exercise caution when dealing in the shares of MIXUE Group until further announcements are made.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. The information herein is based on official company disclosures as of May 3, 2026. Investors should conduct their own due diligence and consult with professional advisers before making any investment decisions. MIXUE Group and its directors accept no responsibility for any loss arising from reliance on the information contained in this article.

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