Onewo Report Says 58.com Founder Yao Jinbo's Firms Breached Rules in Full Exit
Onewo's audited 2026 interim report, released on September 10, discloses that companies controlled by 58. com founder, chairman and CEO Yao Jinbo sold down their entire Onewo (02602. HK) stake in June and July 2026, raising more than HKD 200 million. The report says the sales breached prior written-notice requirements and that trading from July 20 to July 31 also violated a lock-up.
Onewo released its audited 2026 interim report on September 10, disclosing that companies controlled by Yao Jinbo, founder, chairman and CEO of 58. com, repeatedly reduced their holdings in Onewo (02602. HK) in June and July 2026 until the stake was fully cleared, raising more than HKD 200 million.
Onewo said in the report that Yao Jinbo sold shares multiple times in June and July without giving the required prior written notice, constituting a breach, and that stock transactions between July 20 and July 31 also violated lock-up restrictions.
According to the report, the 58-affiliated companies sold a total of 6.74 million shares on-market between June 10 and June 29 at prices ranging from HKD 16.03 to HKD 20.70 per share. Between July 20 and July 31, the companies sold a further approximately 5.1089 million shares at prices ranging from HKD 16.62 to HKD 18.12 per share.
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