China HK Power (00931) has announced a subscription agreement with Ms. Huang Jiajia (the subscriber) entered into on September 14, 2026, during trading hours after the market close on the Stock Exchange. Under the terms and conditions set forth in the agreement, the subscriber has conditionally agreed to subscribe for, and the company has conditionally agreed to allot and issue, a total of 50 million new shares at a subscription price of HK$0.290 per share.

Assuming no change in the total number of issued shares (excluding the subscription shares) from the date of this announcement to the completion date, the subscription shares will represent approximately 0.61% of the issued shares as of the announcement date and approximately 0.61% of the total issued shares as enlarged immediately following completion. The subscription price of HK$0.290 per share represents a discount of approximately 6.5% to the closing price of HK$0.310 per share as quoted on the Stock Exchange on September 14, 2026, which equals the closing bid price per share.

The gross proceeds and net proceeds from the issuance of the subscription shares are estimated to be approximately HK$14.5 million and HK$14.3 million, respectively. The company intends to use the net proceeds from the subscription, after deducting commissions and estimated expenses, for the general working capital of the group, including rental expenses, staff costs, professional fees, and other general administrative and operating expenses.