Puxing Energy Ltd., a company incorporated in the Cayman Islands, has announced a subscription of equity interest in HashKey Holdings Limited. This voluntary announcement, aimed at keeping shareholders and potential investors informed, marks a strategic business development for Puxing Energy. HashKey Holdings is significantly owned by GDZ International Limited, which is ultimately controlled by Mr. Lu Weiding, the ultimate controller of Puxing Energy's controlling shareholder. As a result, this transaction is classified as a connected transaction. However, given that the applicable percentage ratios and the total consideration are below the thresholds set by the Hong Kong Listing Rules, the transaction is exempt from certain reporting and approval requirements.
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