China Lesso Chairman Increases Stake in the Group for HK$22.3 Million as Vote of Confidence for its Prospect
(4 June 2018, Hong Kong) – China Lesso Group Holdings Limited (“China Lesso” or the “Group”, HKEx stock code: 2128), a leading large-scale industrial group making building materials and interior decoration products in mainland China, was informed that its Chairman and Executive Director, Mr. Wong Luen Hei, purchased an aggregate of 4,000,000 shares of China Lesso on 29 and 30 May 2018 on the open market for a total of approximately HK$22,300,000 at an average price of approximately HK$5.56 per share.
The share purchase means that Mr. Wong and his wife Ms. Zuo Xiaoping as the major shareholders of China Lesso have increased their combined equity stake in the Group from 68.36% to 68.49%. The move has also represented a vote of confidence by the chairman and the management for the Group’s prospect.
Mr. Wong Luen Hei, Chairman and Executive Director of the Group, said, “The share purchase represents my confidence in the Group’s prospect. Leveraging its strong business fundamentals and solid financial strength, the Group will continue to fully grasp business opportunities to achieve steady and sustainable profit growth and to generate good returns to shareholders.”
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About China Lesso Group Holdings Limited
China Lesso Group Holdings Limited is a leading large-scale industrial group, making building materials and interior decoration products in mainland China. It is listed on the main board of The Stock Exchange of Hong Kong Limited (stock name: China Lesso, stock code: 2128). China Lesso is one of the constituent stocks of the Hang Seng Composite Index – MidCap and has been included in the scheme of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect and is tradable under Hong Kong Stock Link.
The Group provides over 10,000 kinds of quality products, including plastic piping systems, sanitary ware products, integrated kitchens, systems of doors and windows, decorative plates, fire-fighting equipment, and sanitary materials, etc. They are widely applied to such fields as interior decoration, water supply, drainage, power supply and telecommunications, gas transmission, agriculture, floor heating and fire services. The Group is positioned as one of the manufacturers who offer the most comprehensive range of building materials and interior decoration products.
The Group has 22 advanced production bases in 16 regions, namely Guangdong, Guizhou, Sichuan, Hubei, Jiangsu, Anhui, Zhejiang, Henan, Hebei, Jilin, Shaanxi, Xinjiang, Hainan, Yunnan, Shandong and Hunan. The Group has established a nationwide sales network and has also developed long-term strategic partnerships with 2,155 independent and exclusive first-tier distributors to provide quality and comprehensive products as well as professional services for customers.
For further information, please contact:
iPR Ogilvy & Mather
Callis Lau / Gary Li / Bobo Yang / Wing Chak
Tel: (852) 2136 6185