National Electronics Holdings Limited (National Electronics) has agreed to acquire three adjoining non-residential lots at Nos. 94, 96 and 98 Bonham Strand, Sheung Wan, Hong Kong, for HK$195.00 million. The transaction, signed on 17 July 2026, is being executed through Sukie Limited, an indirect wholly owned subsidiary, and qualifies as a “major transaction” under Hong Kong Listing Rules, given the applicable percentage ratios exceed 25 per cent.

Key Transaction Terms

• Consideration: HK$195.00 million, benchmarked to an independent valuation of HK$210.00 million. • Payment structure: HK$9.75 million (5 per cent) initial deposit upon signing; a further HK$9.75 million by 7 August 2026; HK$175.50 million balance by the 9 October 2026 completion date. • Funding: To be met by internal resources or bank borrowings. • Completion: Vendor Cerana Limited will deliver the property with vacant possession on an “as-is” basis.

Asset Profile

The acquisition covers The Remaining Portion of Section F of Inland Lot No. 863, Section E of Inland Lot No. 863, and The Remaining Portion of Section D of Inland Lot No. 863. The combined site, currently developed with standing buildings, lies in a core commercial district of Hong Kong Island.

Strategic Rationale

The board views the purchase as an opportunity to broaden the group’s property portfolio, citing the site’s strategic location and prevailing market conditions. National Electronics’ operations historically encompass electronic watches and components manufacturing, as well as residential and commercial property investment.

Regulatory and Shareholder Position

• Listing Rules: As a major transaction, the deal requires disclosure, a circular and shareholder approval. • Shareholder approval: A closely allied group holding about 516.51 million shares (56.60 per cent of issued share capital) has provided written consent, obviating the need for a general meeting under Rule 14.44. • Circular: Further details and a formal valuation will be dispatched to shareholders on or before 7 August 2026.

Cautionary Note

The company cautions that completion is subject to execution of a formal agreement and satisfaction of customary conditions precedent; the transaction may not proceed if these are not fulfilled. Investors are advised to exercise caution when dealing in the company’s securities.