Prosperity Group International Limited (1421) announced that on 4 November 2025, its subsidiary Huge Act Limited, together with Earn Best International Investment Limited, entered into a joint venture (JV) arrangement through Max Lucky Corporation Limited (the JV Company). The JV focuses on high-end perovskite equipment development in the PRC through 浙江鑫銳騰智能科技有限公司 (XinRuiTeng).

Under the agreement, the JV Company’s issued share capital will be subscribed such that Huge Act holds 51% and Earn Best International holds 49%. Huge Act and Earn Best International will contribute US$2 million and US$3 million, respectively, by way of shareholder loans to fund the JV’s working capital. Huge Act will also provide key management and operational support. The JV Company and its subsidiary XinRuiTeng will operate under a board structure where the majority of directors are nominated by Huge Act, granting control to Prosperity Group International.

The formation of this JV aligns with Prosperity Group International’s strategy to expand within the solar photovoltaic sector, particularly in third-generation perovskite equipment. The transaction falls under Chapter 14 of Hong Kong’s Listing Rules, with applicable percentage ratios exceeding 5% but below 25%. It is therefore classified as a disclosable transaction, subject to notification and announcement requirements under those rules.

According to the announcement, this move serves the group’s ongoing business expansion goals and is expected to capitalize on the growing prospects in the perovskite market. The new JV arrangement is structured as an investment holding entity and will consolidate XinRuiTeng’s operations under Prosperity Group International. The directors of Prosperity Group International consider the JV in line with the company’s overall interests and strategic direction.