【Regulatory Action】Black Sesame Intelligence: CITIC Securities and Huatai International Withdraw from Placement Agreement Involving Wuji Capital; Authorities Previously Conducted Surprise Inspection Reportedly Involving Wuji Capital

Last week, the office of Wuji Capital was reportedly raided by Hong Kong authorities. China International Capital Corporation (CICC) and Huatai Securities withdrew from stock placement agreements involving Wuji Capital. Black Sesame Intelligence (02533) announced that after the placement agent notified the termination of the subscription agreement, the company and the placement agent signed a termination agreement on March 18. Under this agreement, the parties have mutually agreed to end the placement agreement.

Black Sesame Intelligence stated that the subscription agreement remains valid and binding. The completion of the subscription depends on the fulfillment of the conditions specified in the agreement. The board believes that terminating the placement agreement will not have a significant adverse impact on the company’s existing business, operations, or financial condition.

On March 10, Black Sesame Intelligence announced the placement of 33.545 million shares to Wuji Capital Management’s Infini Global Master Fund, representing 4.8% of the enlarged issued share capital, with a subscription price of HKD 18.88 per share.

The Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) launched a joint operation called “Fuse” on March 10 and 11 to combat insider trading and corruption. They searched 14 locations and arrested six men and two women. Earlier reports indicated that Wuji Capital was involved.

Wuji Capital later issued a statement on its website, saying it has taken note of the relevant market rumors. All information should be based on official announcements from the Hong Kong ICAC and SFC. The company will not comment on unverified information. It has always complied with Hong Kong laws, regulations, and supervisory requirements and will fully cooperate with regulatory authorities.

Last year, Wuji Capital actively invested in several tech stocks through new share subscriptions, including Black Sesame Intelligence, Micro-Plus Group (02013), China Ruyi (00136), SenseTime (00020), GCL Technology (03800), and formerly Fourth Paradigm, now Paradigm Intelligent (06682).

Source: Black Sesame Intelligence Announcement

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