POWERLONG CM (09909) announced that it has been notified by its controlling shareholder, Powerlong Real Estate Holdings Limited (Powerlong Real Estate), that Powerlong Real Estate entered into a restructuring support agreement on October 10, 2025, regarding its proposed offshore debt restructuring (Powerlong Real Estate Restructuring).

According to the terms and conditions related to the Powerlong Real Estate Restructuring, subject to (among other things) the execution of definitive documents, the restructuring consideration will comprise one or more combinations as selected by the scheme creditors, including but not limited to: (i) the sale or pledge of the Company's shares by Powerlong Real Estate to fully or partially fund a total cash amount of USD 40 million; and (ii) the transfer of the Company's shares by Powerlong Real Estate to scheme creditors (equivalent to no more than 32.4% of the Company's outstanding shares).

As of the date of this announcement, Powerlong Real Estate holds 405 million shares of the Company through its wholly-owned subsidiaries, representing approximately 63% of the Company's outstanding shares. The Company expects that the Powerlong Real Estate Restructuring will not have any adverse impact on the operations of the Company and its subsidiaries.