CHINA WACAN (01920) announced on November 10, 2025, that the company intends to issue approximately 112 million subscription shares to China Alliance Venture Technology Limited, wholly owned by Chairman and Executive Director Mr. Zhou Zhenlin, at a price of HK$0.3965 per share. This represents a premium of approximately 4.34% over the closing price of HK$0.380 per share on the Hong Kong Stock Exchange on the last trading day and the date of the subscription agreement. The net proceeds from the subscription, amounting to approximately HK$43.9 million, are expected to be used to meet the working capital needs of the group, including maintaining daily operations and funding business development.