SUNSHINE OIL (02012) announced that on August 19, 2025 Hong Kong time, the company plans to acquire a 51% equity interest in Nobel Technology Limited from Nobel Energy Holdings (China) Limited for a total consideration of HK$50.91945 million. The consideration will be satisfied through the issuance and allotment of 56.98324 million consideration shares to the transferor at an issue price of HK$0.895 per consideration share.

The target company possesses leading ground source heat pump (GSHP) centralized heating and cooling project operation and intelligent management technology. The target company currently holds multiple long-term energy operation and management contracts with stable revenue and cash flow, and will continue to expand its contract portfolio. Upon completion of the acquisition, it is expected that such technology will be applicable to the company's oil sands production in Canada.

The target company owns multiple long-term energy operation and management contracts with stable revenue and cash flow. Following the potential completion of the acquisition, the company's financial position, including revenue and cash flow, is expected to be significantly improved.