China New Energy Limited has completed its previously announced share placement, issuing 117.95 million new shares at HK$0.173 each. The transaction, finalised on 15 July 2026, was executed under the company’s existing general mandate and arranged through an independent placing agent.

Key Terms • Issue size: 117.95 million new shares, equal to 16.67% of the enlarged share capital. • Placing price: HK$0.173 per share, reflecting (i) a 15.61% discount to the HK$0.205 closing price on 25 June 2026 (date of the placing agreement) and (ii) a 19.91% discount to the five-day average closing price of HK$0.216. • Net proceeds: approximately HK$19.59 million after deducting placing commission and related costs. Proceeds are earmarked for general working capital. • Investor base: More than six independent placees; none becomes a substantial shareholder post-placement.

Capital Structure Impact Total issued shares increased to 707.71 million from 589.76 million. The new investors collectively hold 16.67% of the enlarged capital, resulting in proportional dilution for existing shareholders. Major shareholders saw the following stake changes:

– Chairman Yu Weijun: from 17.31% to 14.42% – Tang Zhaoxing: from 7.83% to 6.52% – Chen Wan Ling: from 7.57% to 6.31% – Liang Hongtao: from 7.29% to 6.07% – Jiang Xinchun: from 3.48% to 2.90% – Public float (excluding placees): from 55.86% to 46.56%

Post-placement, the company’s shareholding remains diversified, with no new substantial shareholders emerging.

Board Composition The board continues to comprise one executive director, Chairman Yu Weijun, and three independent non-executive directors: Richard Antony Bennett, Chan Shing Fat Heron and Wong Mei Ling.

The successful capital raise strengthens China New Energy’s liquidity position ahead of planned working-capital requirements.