China HK Power Smart Energy clarifies HK$396.7 million share subscription proceeds allocation

• China HK Power Smart Energy issued a supplemental clarification on its Aug. 14, 2026 new-share subscription under a general mandate.
• Subscriber Wellfire Industrial Group (HK) is 51% owned by Beijing Wellfire Fangheng, indirectly controlled by a PRC state-owned enterprise.
• Remaining 49% is held by Hong Kong-incorporated Shouantong, ultimately owned by Liang Shengquan (51%) and Huang Ling (49%).
• Net proceeds estimated at HK$396.7 million; HK$200 million for existing projects, HK$149 million for current liabilities, HK$47.7 million for working capital.
• Project funding plan points to heavy reliance on bank loans to cover remaining needs, including HK$400 million for Zhanjiang and HK$301 million for the R&D base.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. China HK Power Smart Energy Group Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260901-12312845), on September 01, 2026, and is solely responsible for the information contained therein.