SHOUCHENG (00697) announced that the preconditions of the placement agreement have been fulfilled and the placement was completed on September 10, 2025. The placing agent successfully placed a total of 276 million placement shares at a placement price of HK$2.17 per placement share to no fewer than six independent placees under the terms and conditions of the placement agreement. All placees are independent professional investors, institutional investors and/or other individual investors. To the knowledge, information and belief of the directors, as at the date of this announcement, each of the placees and their respective ultimate beneficial owners are independent of the company and its connected persons.

The company intends to use the net proceeds from the placement of approximately HK$597 million by December 31, 2027 for the following purposes: (i) HK$418 million (representing 70% of the total net proceeds from the placement) will be used for opening technology experience stores and expanding new businesses in the asset operations sector; and (ii) HK$179 million (representing 30% of the total net proceeds from the placement) will be used for general corporate working capital purposes, including payment of administrative expenses, business expansion expenditures, and repayment of matured debts.