On May 15, MARKETINGFORCE (02556) announced it has entered into two separate subscription agreements with two subscribers. Under the agreements, the company conditionally agreed to allot and issue, and the subscribers conditionally agreed to subscribe for, a total of 12,333,400 new shares at a subscription price of HK$40.54 per share. The total gross proceeds from the subscription are approximately HK$500.0 million, with net proceeds of about HK$499.7 million. After deducting all applicable costs and expenses, the net price per share is approximately HK$40.51. The subscription price of HK$40.54 per share is equivalent to the closing price per share as shown on The Stock Exchange of Hong Kong's daily quotation sheet on May 15, 2026, the date of the subscription agreements. This represents a discount of approximately 1.28% to the average closing price of about HK$41.06 per share for the five trading days immediately preceding the agreement date. The price was determined through fair negotiations between the company and the subscribers, taking into account current market conditions, prevailing market prices, and share liquidity. The purpose of the subscription is to introduce strategic partners from the intelligent computing industry, further ensuring the stability and priority of the group's computing power supply chain. The two subscribers will collectively subscribe for 12,333,400 shares. This represents approximately 4.83% of the company's existing issued share capital as of the announcement date (excluding treasury shares) and approximately 4.61% of the enlarged issued share capital following the allotment and issuance of the subscription shares (also excluding treasury shares), assuming no other changes to the issued share capital from the announcement date until completion of the subscription. Regarding the use of proceeds, the company plans to allocate 100% of the net proceeds from the subscription to invest in the construction and operation of intelligent computing infrastructure. This includes, but is not limited to, procuring GPU servers, networking, AIDC leasing, and the development and deployment of various AI large models, model management platforms, and other intelligent computing-related software. These arrangements are intended to solidify the computing power foundation for the group's "Full-Stack Token Factory" strategy, primarily to meet customer demand for AI application computing power, enhance the training efficiency of the group's own vertical models, and further complete the business loop integrating "computing power + application scenarios." The group, based on its current estimates of future market conditions and business plans, aims to implement these initiatives by the end of 2026. If the net proceeds are not immediately used for the stated purposes, the group will deposit them in short-term interest-bearing accounts with licensed commercial banks and/or other recognized financial institutions as defined under the Securities and Futures Ordinance. MARKETINGFORCE stated that proceeding with the subscription will help the company seize the historic opportunity presented by the explosion of AI applications, accelerate the commercialization process, optimize its capital structure, and broaden its shareholder base. The directors believe the terms of the subscription are fair and reasonable, conducted on normal commercial terms, and in the overall interests of the company and its shareholders.