According to the Zhitong Finance App, China Hongguang (08646) announced that all the prerequisites contained in the share subscription agreement had been met, and that the share subscription was completed on June 29, 2023. After the completion of the share subscription transaction, 59.99 million subscribed shares (equivalent to approximately 13.07% of the company's issued share capital expanded by the share subscription on the date of this announcement) were issued to subscribers at the subscription price of HK$0.194 per subscribed share.

The share subscription raised a net fund of approximately HK$115581 million, 50% for loan repayment and 50% for the Group's general working capital.