China ITS (Holdings) Co., Ltd. (stock code: 1900) disclosed on 5 November 2025 that Well Score International Limited, its wholly owned subsidiary, committed to subscribe for Class A Shares of HUA SHENG HENG XIN INVESTMENT FUND LIMITED with a total capital commitment of US$5 million (approximately RMB35.45 million). The fund is an exempted company incorporated in the Cayman Islands and registered as a regulated mutual fund under local laws.

According to the announcement, the fund aims to achieve capital appreciation by investing in a private company engaged in developing brain-computer interface products. The arrangement includes a management fee of up to 2% per annum for the first year per share and 1.5% per annum for up to the third year, payable in advance, with the possibility of adjustment at the fund’s discretion. Participants are also subject to a performance-based incentive allocation of 20% on any net asset value appreciation above an annualized hurdle rate of 8%.

The Class A Shares have a lock-up period ending upon the fund’s full exit from its interests in the target company, and no redemption is permitted during that timeframe. The subscription is for investment purposes and is intended to diversify China ITS’s portfolio and provide potential capital appreciation. As the applicable percentage ratios exceed 5% but remain below 25%, the transaction constitutes a discloseable transaction under Hong Kong’s Listing Rules, subject to reporting and announcement requirements.