According to the announcement from ZHIXIN GP HLDG (02187), the conditions precedent set forth in the subscription agreement have been fulfilled, and the subscription has been completed on March 20, 2026, in accordance with the terms and conditions of the subscription agreement. A total of 149.6 million subscription shares (equivalent to approximately 16.67% of the company's issued share capital after the issuance and allotment of the subscription shares) have been allotted and issued to the subscribers at a subscription price of HKD 0.68 per share. The net proceeds from the subscription, approximately HKD 101.4 million, will be used for the construction of a production line for iron ore tailings and general working capital