A subsidiary of TransLink (01473) plans to subscribe for 40% interest in EVOLVE Holdings Limited for $1 million

Zhitong Finance App News, Huanlian (01473) announced that on December 16, 2025, Pangaea Investment, a wholly-owned subsidiary of the company, has signed a strategic shareholder agreement with Mile Green and the target company Evolve Holdings Limited, covering (including) investment and management matters in the target company.

According to the strategic shareholder agreement, Mile Green will subscribe for 6,000 shares of the target company at a cash cost of US$1.5 million (equivalent to about HK$11.7 million), while Pangaea Investment will subscribe for 8,000 shares of the target company at a cash cost of US$1 million (equivalent to about HK$7.8 million). After the subscription is completed, Mile Green and Pangaea Investment will hold 60% and 40% interests in the target company's issued share capital, respectively. The target company shall only engage in business mainly involving physical assets (RWA) and its related business and investments.

The Group understands that blockchain technology and the tokenization of physical assets have commercial potential in a safe and favorable environment created by Hong Kong's robust regulatory framework and policies. Following the conclusion of the Memorandum of Understanding, the Group has further discussed with Mile Green to develop business cooperation in the field of real assets through investment target companies.

Through collaboration with Mile Green, the target company, which is engaged in the business of physical ecosystem services, the Group will be able to: (i) use Mile Green's extensive commercial network, physical asset expertise and experience in this field (particularly in Southeast Asia) to gain low-risk first-hand experience in physical ecosystem systems; (ii) gain valuable knowledge to maintain competitiveness and forward-looking; and (iii) explore future synergies between physical asset applications and proprietary technologies in the fields of artificial intelligence, the Internet of Things and digitalization. The Group can contribute its experience in the fields of HPC, AIoT and connected solutions, which are critical to tokenized infrastructure. The Group also plans to use Mile Green's commercial network advantages to further expand the IoT business in Southeast Asia (especially Thailand) in the future.

The partnership will also place the Group at the cutting edge of the rapidly rising RWA market, where third-party asset owners, technology partners and other players may require the Group's core connectivity, HPC and AIoT solutions. Although the Group does not directly operate RWA related businesses, investing in target companies may bring potential returns to the Group and enhance its overall competitiveness within the industry.