Core Viewpoint - Tianchen Holdings (01201) announced a conditional subscription agreement to issue a total of 50 million subscription shares at a price of HKD 0.5 per share, representing a discount of approximately 35.90% from the market price on November 27, 2025 [1] Group 1: Subscription Details - The subscription shares account for approximately 15.64% of the existing issued share capital as of the announcement date and about 13.53% of the enlarged issued share capital after the subscription [1] - The total amount raised from the subscription is HKD 25 million, with net proceeds expected to be around HKD 24.65 million after deducting all related expenses, equating to a net price of approximately HKD 0.49 per subscription share [1] Group 2: Business Expansion Plans - The company plans to use the net proceeds entirely to explore new opportunities, specifically to establish and operate charging stations in Hong Kong, with an initial investment of approximately HKD 20 million [1] - This business model is expected to be similar to the concept disclosed in the company's circular dated September 26, 2025, and may involve the acquisition of existing charging stations for private vehicles [1] - The operations in Hong Kong are anticipated to commence in December 2025, and the management believes that this project will complement the company's existing lithium-ion battery business [1]