GCL New Energy Holdings Limited has finalised the first tranche of its previously announced share subscription, issuing 91.74 million new shares at HK$1.05 each and raising HK$96.33 million. Completion was achieved on 8 May 2026 after all precedent conditions under the subscription agreements were satisfied.

Post-issuance, the new shares represent 5.17% of the company’s enlarged share capital, which has increased from 1.68 billion to 1.77 billion shares. The incoming subscriber, described by the board as an independent third party, becomes the company’s third-largest shareholder with a 5.17% stake.

The placement adjusts the ownership mix as follows: • Golden Concord Group Limited’s holding decreases from 24.46% to 23.19%. • Other public shareholders’ aggregate interest declines from 67.98% to 64.47%. • The newly placed shares come in addition to 127.00 million shares placed on 28 April 2026 to at least six placees at the same HK$1.05 price.

The board confirms that the subscriber and its ultimate beneficial owner are not connected persons of GCL New Energy under Hong Kong Listing Rules.