POWER XINCHEN (01148.HK): Extends Condition Satisfaction Date and Final Payment Date for Capital Increase Consideration to 12 February 2027
NewTimeSpace News: On 11 August 2026, XINCHEN CHINAPOWER HOLDINGS LIMITED (stock code: 01148.HK) announced that the parties to the share acquisition agreement for the acquisition of equity interests in Zhonghang Lantian Equipment Manufacturing Co., Ltd. have entered into a supplemental agreement to extend the deadline for satisfying the outstanding condition and the final payment date for the capital increase consideration from 12 August 2026 to 12 February 2027.
The announcement stated that the share acquisition agreement was entered into on 16 October 2025, involving Mianyang Xinchen Power Machinery Co., Ltd., an indirect wholly-owned subsidiary of the Company, as purchaser, the Company as subscriber, Shanxi Lantian Industrial Group Co., Ltd. as vendor, and Zhonghang Lantian Equipment Manufacturing Co., Ltd. as target company. The outstanding condition requires the competent government authority of the location of the target company to agree to grant investment promotion preferential policies to the target company. As of the date of this announcement, discussions with the competent government authority regarding the implementation of the proposed preferential policies are still ongoing, and the condition has not yet been satisfied.
Under the share acquisition agreement, if the outstanding condition is not satisfied and/or waived on or before 12 August 2026 (or such later date as agreed in writing by the purchaser and the subscriber), the purchaser and the subscriber have the right not to proceed with the payment of the capital increase consideration. Based on the current progress, the outstanding condition is expected to be satisfied on or before 12 February 2027; accordingly, the final payment date for the capital increase consideration, originally no later than 12 August 2026, has also been extended in line with the extended condition satisfaction deadline. Save for the modifications disclosed above, all other terms and conditions of the share acquisition agreement remain unchanged.
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