Xingqian Development (00640.HK) completed the issuance of a total of 35.1 million shares for subscription.

Great Wall Development (00640.HK) announced that all conditions for the placement authorization have been met and a total of 35.1 million shares have been distributed by the placement agent. The placement was completed on December 2, 2025. According to the terms and conditions of the placement authorization, the shares were issued at a price of SGD 0.39 per share (equivalent to HKD 2.335) to at least six underwriters. After conducting all reasonable inquiries, the directors are fully aware and confident that the underwriters and their respective ultimate beneficial owners are independent third parties. None of the underwriters will become a major shareholder of the company after the placement.