Venture Group Holdings (02221) plans to issue a total of about 148.949 million shares at a premium of 78.51% to acquire 70% of Anhui Boiling Point Environmental Protection Technology Co., Ltd.

Zhitong Finance App News, Venture Group Holdings (02221) announced that on September 3, 2026, the company plans to acquire 30%, 20% and 20% shares of Anhui Boiling Point Environmental Technology Co., Ltd. from Fang Shuo, Zhang Xiaoyun, and Zhu Zucun respectively, at a total cost of 127.75 million yuan. The company will issue shares at a cost of HK$1 per share at a cost of HK$1 per share through allotment and issuance of a total of approximately 148.949 million shares.

As of the date of this announcement, the target company held 51% of the shares in the Chinese subsidiary (Chuzhou Boiling Point Environmental Technology Co., Ltd.), which was newly established in July 2026. The Chinese subsidiary will mainly be engaged in the collection, processing and trading of waste oil in China.

The board of directors believes that the acquisition is in line with the Group's diversified revenue sources and business development strategy to expand the environmental protection business. In view of the target company's established waste oil collection, treatment and trading capabilities in Anhui Province, China, and its existing procurement network and customer base, the company believes that once the acquisition is completed, it can further expand the Group's access to upstream waste oil resources. Furthermore, it is anticipated that the acquisition will promote the integration of the target company's business with the Group's existing environmental protection business, and create synergy effects in project development, operation management and resource utilization.

The Board believes that the acquisition will enable the Group to seize the opportunities brought about by growing demand for renewable energy and low-carbon energy. Waste oil is a key raw material for the production of sustainable aviation fuel and biodiesel. As the sustainable aviation fuel industry continues to grow in China and around the world, the company expects demand for compliant and traceable waste oil to continue to increase. The acquisition will enable the Group to further participate in this growth area and establish a more stable market position upstream in the renewable fuel supply chain.