On January 22, 2026, the Company entered into a placing agreement with a placing agent, whereby the agent agreed to act as the Company's agent on a best efforts basis to procure no fewer than six placees to subscribe for up to 246 million placing shares at a placing price of HK$0.16 per share. Assuming no change in the Company's issued share capital from the date of this announcement to the completion date, the maximum of 246 million placing shares represents approximately 20.00% of the Company's existing issued share capital as of the announcement date, and about 16.67% of the Company's issued share capital as enlarged by the allotment and issue of all the placing shares. The placing price of HK$0.16 per share represents a discount of approximately 8.57% to the closing price of HK$0.175 per share as quoted on the Stock Exchange on January 22, 2026, and a discount of approximately 13.04% to the average closing price of HK$0.184 per share for the last five consecutive trading days on the Stock Exchange immediately preceding the date of the placing agreement. Assuming all placing shares are successfully placed, the gross proceeds from the placing are expected to be approximately HK$39.3 million. After deducting all related expenses incidental to the placing, the net proceeds are estimated to be approximately HK$38.3 million. The Company intends to use the net proceeds from the placing for the repayment of the Group's liabilities and as general working capital for the Group.