CHINA HK POWER (00931) plans to issue 100 million new shares to Wei Haifeng at a discount of approximately 7.9%, raising around HKD 28.8 million.

CHINA HK POWER (00931) announced that on September 7, 2026 (after trading hours on the Stock Exchange), the company entered into a subscription agreement with Mr. Wei Haifeng (the subscriber) under the terms and conditions of the subscription agreement. The subscriber has conditionally agreed to subscribe, and the company has conditionally agreed to allocate and issue a total of 100 million new shares at a subscription price of HK$0.290 per share. The shares being placed constitute approximately 1.21% of the enlarged issued shares. The subscription price of HK$0.290 per share represents a discount of approximately 7.9% to the closing price of HK$0.315 per share reported by the Stock Exchange on September 7, 2026. The total gross proceeds from the issuance of the subscription shares are estimated to be approximately HK$29 million, with the net proceeds estimated at approximately HK$28.8 million. The company intends to use the net proceeds from the subscription (after deducting commissions and estimated expenses) for the Group's general working capital, including rental expenses, employee costs, professional fees, and other general administrative and operating expenses.