Core Insights - The company is actively pursuing international expansion, launching products and services in overseas markets [1] - The AI computing cloud service, CoresHub.ai, has been fully launched and is now available for global developers, offering low-cost, high-efficiency, and reliable model services [1] - The container software KubeSphere, built on Kubernetes, has significant technical influence globally and is utilized by tens of thousands of users both domestically and internationally [1]

Core Insights - The company is actively pursuing international expansion, launching products and services in overseas markets [1] - The AI computing cloud service, CoresHub.ai, has been fully launched and is now available for global developers, offering low-cost, high-efficiency, and reliable model services [1] - CoresHub.ai has introduced multiple large models, providing flexible and high-performance model invocation services for global AI application developers, enterprise development teams, and AIGC creators [1] - The company's container software, KubeSphere, is built on Kubernetes and ranks second in popularity within the global open-source container field, demonstrating significant technical influence and being utilized by tens of thousands of users worldwide [1]

Group 1 - The company, Guangdong-Hong Kong Bay Holdings (01396.HK), announced on December 4 that it will place a total of 34.18 million shares to two subscribers, representing approximately 2.95% of the enlarged share capital, at a price of HKD 5.5 per share, which is a discount of about 3.51% compared to the closing price of HKD 5.7 on December 4. The total amount raised is approximately HKD 188 million, with a net amount of about HKD 187.6 million [2] - Approximately 70% of the net proceeds will be used for the delivery of AI computing power cloud service projects, about 20% for project construction costs, and around 10% for daily operational expenses [2] - On December 5, the company announced that the subscription by Subscriber B is considered a connected transaction under Listing Rule Chapter 14A, and the subscription agreement with Subscriber B has been terminated. Subscription Agreement A will remain valid and continue to be executed [2] Group 2 - Following the completion of the subscription, the shareholding structure will change, with China Guangdong-Hong Kong Bay Holdings Limited holding approximately 36.26% of the shares, Champion Road Group Limited holding approximately 27.10%, and Subscriber A holding approximately 1.72% [3] - The total number of shares after the subscription will be 1,143,739,463 [3]

Core Viewpoint - The company announced the termination of Subscription Agreement B due to regulatory constraints, while Subscription Agreement A remains effective and will provide approximately HKD 108 million in funding for operational purposes [1] Group 1: Subscription Agreements - Subscription Agreement B was terminated by mutual consent on December 5, 2025, due to its classification as a connected transaction under Listing Rule Chapter 14A, which could not proceed under general authorization [1] - Subscription Agreement A will continue to be valid, with total proceeds expected to be approximately HKD 108 million, net proceeds around HKD 107.6 million after expenses, translating to a net issue price of approximately HKD 5.48 per share [1] Group 2: Use of Proceeds - The net proceeds from Subscription Agreement A will be allocated as follows: approximately 70% for AI computing power cloud service projects, 20% for project construction costs, and 10% for daily operational expenses [1] Group 3: Trading Resumption - The company has applied to resume trading of its shares starting from 1 PM on December 5, 2025 [1]

Core Viewpoint - The company announced the termination of Subscription Agreement B due to it being classified as a connected transaction under Listing Rule Chapter 14A, while Subscription Agreement A remains valid and will continue to be executed [1] Group 1: Subscription Agreements - Subscription Agreement B has been mutually terminated as of December 5, 2025, due to its classification under connected transactions [1] - The parties involved in Subscription Agreement B will be released from their respective obligations, but this does not affect any rights or obligations that arose prior to the termination [1] - Subscription Agreement A will continue to be effective, with total proceeds from this agreement expected to be approximately HKD 108 million, net proceeds around HKD 107.6 million after expenses, translating to a net issue price of approximately HKD 5.48 per share [1] Group 2: Use of Proceeds - The net proceeds from Subscription Agreement A are intended for general working capital, with approximately 70% allocated for AI computing power cloud services, 20% for project construction costs, and 10% for daily operational expenses [1] Group 3: Trading Resumption - The company has applied to resume trading of its shares starting from 1 PM on December 5, 2025 [1]

Core Viewpoint - Yuegangwan Holdings (stock code: 1396) announced a financing plan through the placement of new shares, raising approximately HKD 190 million for AI computing services and operational expenses [1] Group 1: Financing Details - The company will issue 34,181,818 new shares, raising about HKD 190 million, with net proceeds also around HKD 190 million after expenses [1] - The placement price of HKD 5.50 represents a discount of approximately 3.5% to the last closing price of HKD 5.70 and a discount of about 5.5% to the average closing price over the past five trading days [1] - The new shares will account for approximately 3.0% of the existing issued share capital and about 2.9% of the enlarged share capital post-issue [1] Group 2: Company Overview - Yuegangwan Holdings operates with a dual focus on infrastructure and AI business, providing AI computing technology services, constructing and developing AI computing centers, and operating these centers [1] - The funds raised will be allocated to the delivery of AI computing cloud services, project construction payments, and daily operational expenses [1]

Core Viewpoint - Yue Gang Wan Holdings (01396) plans to issue a total of 34.18 million shares to subscribers, representing approximately 2.95% of the enlarged issued share capital, at a subscription price of HKD 5.5 per share, which is about 3.51% lower than the closing price of HKD 5.7 on December 4 [1] Summary by Categories Share Issuance - The company intends to issue 34.18 million shares to CMBI PRIVATE EQUITY SERIES SPC and Ding Sheng Limited [1] - The subscription price is set at HKD 5.5 per share, reflecting a discount of approximately 3.51% from the market closing price on the same day [1] Financial Implications - The total amount raised from the subscription is expected to be around HKD 188 million, with a net amount of approximately HKD 187.6 million after expenses [1] Use of Proceeds - The net proceeds from the subscription will be allocated as follows: approximately 70% for the delivery of AI computing power cloud service projects, about 20% for project construction costs, and around 10% for daily operational expenses [1]

Group 1 - The company, Yue Gang Wan Holdings (01396), announced a plan to issue a total of 34.18 million shares to subscribers, representing approximately 2.95% of the enlarged issued share capital after the issuance [1] - The subscription price is set at HKD 5.5 per share, which is a discount of about 3.51% compared to the closing price of HKD 5.7 on December 4 [1] - The total amount raised from the subscription is expected to be approximately HKD 188 million, with a net amount of about HKD 187.6 million [1] Group 2 - The board intends to use the net proceeds from the subscription for general working capital, with approximately 70% allocated for the delivery of AI computing power cloud service projects [1] - About 20% of the proceeds will be used to pay for project construction costs, and approximately 10% will be allocated for daily operational expenses [1]

Core Viewpoint - Yue Gang Wan Holdings (01396.HK) has entered into a subscription agreement with CMBI PRIVATE EQUITY SERIES SPC and Ding Sheng Limited to issue a total of 34,181,818 subscription shares at a price of HKD 5.5 per share, representing a discount of approximately 3.51% compared to the closing price of HKD 5.7 on the Hong Kong Stock Exchange [1] Summary by Categories Subscription Details - The total amount raised from the subscription is approximately HKD 188 million, with a net amount of about HKD 187.6 million after deducting expenses related to the subscription [1] - The net issue price per subscription share is approximately HKD 5.49 [1] Use of Proceeds - Approximately 70% of the net proceeds will be allocated to the delivery of AI computing power cloud service projects [1] - About 20% will be used to pay for project construction costs [1] - Approximately 10% will be allocated for daily operational expenses [1]