Numans Health Food Holdings Company Limited (Numans) has officially appointed Innovax Capital Limited as its new compliance adviser, effective 10 March 2026, following the resignation of Caitong International Capital Limited.

The transition stems from fee discussions initiated in early January 2026. Numans sought a reduction in Caitong’s advisory charges for the remaining contract period, which was scheduled to run until April 2027. After two months of negotiations, no consensus was reached, leading Caitong to tender its resignation on 27 February 2026, effective 9 March 2026.

Numans evaluated Innovax on four key criteria: 1) its track record of advising more than seven listed issuers between 1 January 2024 and 9 March 2026; 2) manpower depth, including 13 responsible officers and five Type 6 representatives; 3) service scope compliance with Listing Rule 3A.23; and 4) a more competitive fee structure. The Board concluded that Innovax can deliver advisory support equivalent to—or exceeding—Caitong’s without compromising quality.

The company confirmed Innovax’s engagement on 2 March 2026 and signed the formal agreement on 9 March 2026. Numans states that Rule 3A.27 requirements were fully met, as the replacement adviser was appointed within three months of Caitong’s resignation, and that all disclosure obligations under Rules 3A.29 and 13.51(6) have been observed.

The Board believes Caitong fulfilled its duties through the transition period and confirms no outstanding compliance issues were noted during the tenure. All other details from the 9 March 2026 announcement remain unchanged.