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# A Chinese Meat Company Sold Two-Thirds of Itself to Three People
- URL: https://www.pennystocks.news/wyhg-a-chinese-meat-company-sold-two-thirds-of-itself-to-thr/
- Published: 2026-09-09T16:20:21.000Z
- Updated: 2026-09-09T16:20:21.000Z
- Description: Wang Tingfeng alone took more than a third of the company. All three are locked in for a year — and everyone else's stake just got smaller.
- Author: PennyStocksNews Team
- Tags: nasdaq, ticker-wyhg

Three individuals now own roughly two-thirds of Wing Yip Food Holdings. **Wang Tingfeng, Wong Sio Chan and Zhao Jin Hua paid a combined HKD 195 million for 23 million newly issued shares** — placed directly with them at a fixed price, not sold in the open market.

Wing Yip Food Holdings Group Limited NASDAQ: WYHG 

The shares were issued on August 7, 2026 and **listed on the Korea Exchange on September 7**, according to a Form 6-K filed with the SEC on September 8\. After the issuance, the company had about 35.6 million shares outstanding, with the placement shares making up roughly two-thirds of that total.

For existing shareholders, this is the central fact: every share held before August 7 now represents a smaller portion of the same company than it did. The three buyers paid **KRW 1,600 per share**, a price approved at a shareholder meeting on August 6.

**Wang Tingfeng took the largest position — 13 million shares for about HKD 110 million.** Wong Sio Chan and Zhao Jin Hua each received 5 million shares. The company says the proceeds will go toward procurement costs, marketing and research and development.

Shares **closed 44.83% higher at $5.8800** on September 9, on dollar volume of about $112.8 million.

All 23 million placement shares are **subject to a lock-up until September 6, 2027**. For a year, roughly two-thirds of the company cannot be sold by the people who hold it.