Enterprise Development reallocates placing proceeds to AI server market

** Enterprise Development Holdings Limited announced a change in the use of proceeds from a previous placing. The company will now allocate approximately HKD59.042 million, initially earmarked for investment in artificial intelligence data center projects, to deepen and expand its software licensing sales business and artificial intelligence server product sales business. This decision follows increasing market uncertainties and adjustments in partners' demands, leading to the failure of the AI data center project to progress substantially. The funds will primarily be used for the purchase of artificial intelligence servers for sales purposes and are expected to be fully utilized by December 31, 2025. The remaining proceeds from the Placing of approximately RMB54.734 million (equivalent to HKD59.042 million), had previously been designated for the AI Data center. The company states this change will not adversely impact the operations of the Group and aligns with the interests of its shareholders.