HSC Resources announces that under the previously announced distribution agreement (as amended), HSC Resources has been successfully completed on May 16, 2024. The sale of 28,800,000 shares was distributed to no less than six independent third party professionals, institutions or other investors at a price of HK$0.67 per share, with no partner becoming the principal shareholder of the company. The total amount of distribution proceeds is approximately HK$19,296,000, net of approximately HK$18,517,000 after deducting related expenses. The Company plans to use the net proceeds to repay shareholder loans, expand its business and as general operating capital. Upon completion of the distribution, the Company's issued share capital increased from 144,000,000 shares to 172,800,000 shares, of which the shareholders' equity ratio was 16.67% and the other public shareholders' shareholding ratio decreased from 90.10% to 75.00%.

HSC Resources announces that under the previously announced distribution agreement (as amended), HSC Resources has been successfully completed on May 16, 2024. The sale of 28,800,000 shares was distributed to no less than six independent third party professionals, institutions or other investors at a price of HK$0.67 per share, with no partner becoming the principal shareholder of the company. The total amount of distribution proceeds is approximately HK$19,296,000, net of approximately HK$18,517,000 after deducting related expenses. The Company plans to use the net proceeds to repay shareholder loans, expand its business and as general operating capital. Upon completion of the distribution, the Company's issued share capital increased from 144,000,000 shares to 172,800,000 shares, of which the shareholders' equity ratio was 16.67% and the other public shareholders' shareholding ratio decreased from 90.10% to 75.00%.