FOLANGSI (02499) announced that on April 17, 2026, the company entered into a subscription agreement with a subscriber. Under the agreement, the subscriber has conditionally agreed to subscribe for, and the company has conditionally agreed to allot and issue, a total of 14.5 million H shares at a subscription price of HK$6.02 per share. The subscription shares will be allotted and issued under a general mandate.

Assuming no change in the company's issued share capital between the date of this announcement and the completion date, the subscription shares represent approximately 4.17% of the company's issued share capital as of the announcement date, and about 4.00% of the enlarged issued share capital following the issuance.

The subscription price represents a discount of approximately 2.27% compared to the closing price of HK$6.16 per share on the Hong Kong Stock Exchange on the last trading day. The gross proceeds from the subscription are expected to be approximately HK$87.3 million, with net proceeds amounting to about HK$86.8 million. The net proceeds are intended to be used for the group's daily operations, supporting technological innovation and digital operations, expanding the offline service network, and developing business layouts such as electrification initiatives.