CHINA HONGGUANG (08646) completes issuance of 150 million shares subscribed by Mingliang Global.

CHINA HONGGUANG (08646) announces that all the preconditions stipulated in the Bright Global shares subscription agreement have been met, and the share subscription transaction will be completed on July 2, 2025. After the completion of the Bright Global shares subscription, 150 million shares of Bright Global will be subscribed, equivalent to approximately 24.63% of the enlarged issued share capital of the company as of the date of this announcement, at a subscription price of HK$0.286 per share issued to Bright Global. The total amount raised from the Bright Global shares subscription and issuance transaction is approximately HK$42.9 million. The net amount of funds raised from the Bright Global shares subscription and issuance transaction (after deducting relevant expenses) is approximately HK$42.4724 million. The company intends to use the net proceeds from the Bright Global shares subscription and issuance transaction for general working capital purposes of the group, repayment of bank loans, and development of potential business projects.