TESSON HOLDINGS (01201) announced that on November 27, 2025, the company entered into five separate subscription agreements with respective subscribers. The subscribers conditionally agreed to subscribe, and the company conditionally agreed to allot and issue a total of 50 million subscription shares at HK$0.5 per share.

The subscription shares represent approximately 15.64% of the company's existing issued share capital as of the announcement date and about 13.53% of the enlarged issued share capital upon full allotment and issuance. The subscription price of HK$0.5 per share represents a discount of approximately 35.90% compared to the closing price of HK$0.78 per share on the Hong Kong Stock Exchange on November 27, 2025.

The gross proceeds from the subscription amount to HK$25 million. After deducting all related expenses, the net proceeds are expected to be approximately HK$24.65 million, equivalent to a net price of about HK$0.49 per subscription share.

The company intends to use the net proceeds entirely to explore new opportunities for further business expansion. Specifically, TESSON HOLDINGS plans to establish and operate charging stations in Hong Kong, with an initial investment of around HK$20 million. The business model is expected to align with the concept disclosed in the company's circular dated September 26, 2025, and may involve acquiring existing charging stations currently serving private vehicles. Operations in Hong Kong are anticipated to commence in December 2025.

The management believes this project complements the group's existing lithium-ion power battery business. The board has sufficient understanding of the business environment and industry practices.