GOLDENPOWER (03919.HK): Subscription of 6.49 Million New Shares Completed, Subscriber to Become Substantial Shareholder with 14.3%

NewTimeSpace News: On 17 August 2026, Golden Power Group Holdings Limited (stock code: 03919) announced the completion of the subscription of new shares under the general mandate. The subscriber has subscribed for, and the company has allotted and issued, 6,492,000 subscription shares at HK$ 0.65 per share, representing approximately 16.7% of the existing issued share capital before completion and approximately 14.3% of the issued share capital as enlarged by the allotment and issue of the subscription shares. Following completion, the subscriber will become a substantial shareholder (as defined in the Listing Rules) and a connected person of the company.

The gross proceeds and net proceeds from the subscription amount to approximately HKD 4.2 million and HKD 4.1 million respectively. Of this, HKD 3.3 million (approximately 80%) will be used to repay the group's bank facilities due within the next six months, and HKD 0.8 million (approximately 20%) will be used as general working capital of the group.

In terms of shareholding structure, immediately before completion, Mr. Zhu Jingdian, chairman and executive director (wholly owning Golden Villa Limited), held 13,657,500 shares (35.1%), Ms. Zhu Shuqing, executive director, held 1,828,000 shares (4.7%), Zhu Weijiang held 2,700,000 shares (6.9%), and other public shareholders held 20,694,500 shares (53.3%). Immediately after completion, the subscriber holds 6,492,000 shares (14.3%), with the shareholdings of Mr. Zhu Jingdian, Ms. Zhu Shuqing, Zhu Weijiang and other public shareholders diluted to 30.1%, 4.0%, 6.0% and 45.6% respectively, and total share capital increased from 38,880,000 to 45,372,000 shares.

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