Zhong Ao Home Group Limited announced the completion of its unlisted warrant issuance on 28 April 2026, after all precedent conditions under the joint-venture agreement were fulfilled.

Key transaction details • Total warrants issued: 85.46 million, allocated to Mr. Li (12.39 million), Ms. Peng (30.34 million) and Mr. Yan (42.73 million). • Nominal consideration: HK$1.00. • Exercise price: HK$0.42 per share, exercisable at any time during the agreed period and subject to customary adjustments. • Gross proceeds on full exercise: approximately HK$35.89 million. • Expected net proceeds: approximately HK$35.00 million, earmarked for general working capital as previously disclosed.

Lock-up and exercise restrictions Each recipient signed a non-disposal undertaking prohibiting the sale or encumbrance of any warrant shares until the Company’s controlling shareholder disposes of its stake. Exercise is further limited by public-float requirements set out in Rule 13.32B of the Listing Rules; accordingly, none of the warrant holders will become a substantial shareholder upon full conversion.

Post-transaction share structure Issued shares currently stand at 854.55 million. If all warrants are exercised, total shares would rise to 940.01 million. The controlling shareholder, Qichang International, would see its stake diluted from 55.62 % to 50.57 %. Public shareholders would move from 25.71 % to 23.37 %.

Timetable and governance The warrants became effective immediately upon completion. No changes were reported to the board composition, which remains chaired by Mr. Liu Jian with three other executive directors, two non-executive directors and three independent non-executive directors.

This warrant issuance strengthens Zhong Ao Home’s capital flexibility, providing up to HK$35.00 million in additional funding capacity while maintaining compliance with Hong Kong listing requirements.