HK Stock Market Move | CHINA HANKING (03788) rises more than 5% recently, intending to subscribe for the issuance of new shares by Rare King Gold to meet the funding needs of the Australian gold mine project.

China Hanking (03788) rose over 5%, as of press time, it rose 5.5% to HK$4.41, with a turnover of HK$148.83 million. On the news front, China Hanking announced that on September 30, 2025, Hanwang Gold (a non-wholly-owned subsidiary of the Company, as the issuer) entered into six subscription agreements with six subscribers (including the Company) at a subscription price of HK$2.62 per share to subscribe for a total of 4.3655 billion shares. Due to the proposed spin-off being conducted by way of introduction, Hanwang Gold will not raise funds for the proposed spin-off. Therefore, as announced by the Company on September 22, 2025, the funds raised by Zijin Mining Group for strategic investment, together with the Company's own capital injection (including the subscription matters), will constitute part of the pre-placing funds raised by Hanwang Gold. As of the date of this announcement, Hanwang Gold is an investment holding company, of which the Company owns 94.0% equity interest. Upon completion, the Company will hold 91.2% equity interest in Hanwang Gold and it will continue to be a non-wholly-owned subsidiary of the Company until the proposed spin-off is completed. After the proposed spin-off, the Company will distribute its shares in Hanwang Gold to its shareholders to establish a parallel listing structure between the Company and Hanwang Gold. The completion of the pre-placing (including the subscription matters) will enable the Company (including Hanwang Gold) to demonstrate its ability to meet the funding requirements for the future development of the Australian gold projects, Cygnet and Mt. Bundy (referred to as the "Australian Gold Projects"). The Company subscribes for the subscription shares at the same subscription price as all other independent third-party subscribers, in order to minimize the dilutive impact on its equity interest in Hanwang Gold and maintain fairness with all other independent strategic investors.