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 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 - 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]