Bonny International Holding Limited (Bonny HLDG) has disclosed two connected‐party balances that arose after completing the disposal of its entire stake in Hongkong Bonny Limited (Bonny HK) on 30 June 2026. Bonny HK and its subsidiaries are now wholly owned by Hong Kong Bo De Trade, which is controlled by the son of Bonny HLDG’s chairman, rendering the entities connected persons under Chapter 14A of the Listing Rules.
Non-trade balance • Amount: RMB17.08 million. • Nature: Historical intra-group current account, now classified as financial assistance. • Terms: Unsecured, 3.0 % annual interest, repayable in full by 31 December 2026. • Listing Rules: Applicable percentage ratios exceed 0.1 % but are below 5 %; therefore subject only to reporting and announcement.
Trade-related balance • Amount: RMB6.79 million, representing unpaid value-added tax on ODM and brand-product processing services completed before the disposal. • Terms: Interest-free, unsecured; Zhejiang Bonny will settle within seven business days after Yiwu Bonny Fashion issues the remaining VAT invoices, which must occur by 31 December 2026. • Listing Rules: Same classification as the non-trade balance—reporting and announcement required, but no circular or independent shareholders’ approval.
Background Prior to the disposal, treasury functions and processing transactions were executed within a single corporate group structure. Upon completion, outstanding intra-group balances automatically converted into amounts due from connected persons: 1. Treasury funding: RMB17.08 million remained outstanding under the former group cash-pool arrangement. 2. Processing services: Of the RMB67.75 million contract value delivered from January to June 2026, RMB60.96 million had been settled; only the tax component of RMB6.79 million is outstanding pending invoice issuance.
Board assessment Directors without material interests consider the settlement terms fair and reasonable, noting that no new funds were advanced after the disposal.
Non-compliance and remedial measures The balances were not re-classified or announced immediately after completion, leading to a breach of Chapter 14A. Bonny HLDG has: • Signed settlement agreements with the Bonny HK Group. • Instituted mandatory pre-completion balance reconciliation for future disposals. • Scheduled regular Listing Rules training for directors and senior staff. • Committed to earlier consultation with professional advisers and, where appropriate, the Stock Exchange.
The company emphasizes that the two balances stem solely from historical arrangements and do not represent additional financing extended post-disposal.