Core Viewpoint - The article discusses the recent subscription agreement between Deshang Real Estate and Reynold Lemkins Group, highlighting the strategic implications of the investment and the potential for future developments in the company's governance and operations [3][4][5]. Group 1: Subscription Agreement Details - Deshang Real Estate announced a subscription agreement with Reynold Lemkins Group to issue 100.8 million new shares, representing approximately 10% of the company's expanded issued share capital, at a subscription price of HKD 0.7 per share, a discount of about 16.67% from the previous closing price of HKD 0.84 [3]. - The total fundraising amount is HKD 70.56 million, with a net amount of HKD 68.76 million intended for strategic transformation and upgrades in the traditional real estate business through integration into the Web3 ecosystem [3]. Group 2: Strategic Implications - The one-year lock-up period for the subscribed shares is unusual and suggests a strategic binding rather than a purely financial investment, indicating the investor's intention to engage deeply in the company's development [5][6]. - The invitation for the new shareholder to join the board of directors is a typical move to enter the control chain, allowing the investor to influence future strategic directions and capital operations [6]. - The broad and flexible use of funds, including potential investments or acquisitions and general operational funding, indicates that the company is preparing for future capital actions rather than just operational purposes [6].

Core Viewpoint - 德祥地产 has entered into a subscription agreement with The Reynold Lemkins Group (Asia) Limited to issue a total of 100.8 million subscription shares at HKD 0.7 per share, representing a discount of approximately 16.67% compared to the last closing price of HKD 0.84 [1] Group 1: Subscription Details - The total net proceeds from the subscription are approximately HKD 68.76 million [1] - The subscription shares will be issued under general authorization [1] - The effective date for the resumption of trading of the company's shares is set for November 25, 2025, at 9:00 AM [1] Group 2: Use of Proceeds - The proceeds will be used for strategic transformation and upgrading of the company's traditional real estate business through integration into the Web3 ecosystem [1] - Funds will also support strategic projects and resources that benefit core business development and capital structure optimization [1] - The company aims to expand strategic partnerships and regional market coverage, as well as for general working capital [1] Group 3: Key Stakeholder - The ultimate beneficial owner of the subscriber is entrepreneur Liu Haoran [1]

Core Viewpoint - 德祥地产 has entered into a subscription agreement with The Reynold Lemkins Group (Asia) Limited to issue a total of 100.8 million subscription shares at HKD 0.7 per share, representing a discount of approximately 16.67% compared to the last closing price of HKD 0.84 [1] Financial Summary - The net proceeds from the subscription are approximately HKD 68.76 million, which will be used for strategic transformation and upgrading of the company's traditional real estate business through integration into the Web3 ecosystem [1] - The funds will also support strategic projects and resources that benefit core business development and capital structure optimization, expand strategic partnerships, and enhance regional market coverage, as well as general working capital [1] Market Activity - The company has applied to the Stock Exchange for the resumption of trading of its shares starting from 9:00 AM on November 25, 2025 [1] Ownership Information - The ultimate beneficial owner of the subscriber is entrepreneur Liu Haoran [1]