SUNEVISION Holdings Ltd. (SUNEVISION) announced that on 11 September 2026 Sun Hung Kai Properties Ltd. (SHKP) and its wholly owned subsidiaries exercised their option to convert the entire HK$171.94 million principal amount of SUNEVISION’s 2010-issued convertible notes into ordinary shares.

The conversion is deemed effective on 27 October 2026, when 1.72 billion new fully paid shares will be issued to the SHKP Group at the preset conversion price of HK$0.10 per share. Post-conversion, the SHKP Group’s holding will rise to 3.45 billion shares, representing 84.47 % of SUNEVISION’s enlarged share capital of approximately 4.08 billion shares.

Financially, the transaction is neutral: • No cash changes hands; the notes are simply reclassified from debt to equity. • Total equity, equity per share and reported earnings per share remain unaffected because the potential dilution has already been reflected in both basic and diluted EPS calculations since the notes were issued.

Impact on public float: • Public shareholders will hold about 616.84 million shares, or 15.10 % of the enlarged share base, down from the current 25 % level required under the standard Listing Rule threshold. • Based on the 125-day volume-weighted average price of HK$5.5819, public-float market value is roughly HK$3.44 billion—comfortably above both the HK$1.00 billion and 10 % hurdles specified in Rule 13.32B.

Consequently, from the conversion date SUNEVISION will rely on the Listing Rules’ Alternative Threshold, which permits a minimum public float of 10 % provided the free-float market value exceeds HK$1.00 billion. The company will disclose updated public-float statistics after the new shares are allotted.