Wasion Holdings sells North American subsidiary in connected transaction

Wasion Holdings Limited entered into a Share Purchase Agreement on December 24, 2025, to dispose of its 100% equity interest in Rich Study Investments Limited to Harbour Equity Partners Ltd. The consideration for the transaction is 46 million yuan. The target company, incorporated in the British Virgin Islands, specializes in intelligent energy solutions for North American customers.

The purchaser, Harbour Equity Partners Ltd., is wholly-owned by Mr. Kat Chit, an executive director of Wasion Holdings, making this a connected transaction. Wasion Energy HK, an indirect non-wholly-owned subsidiary of Wasion Holdings, is the seller. This divestment aligns with Wasion's strategy to focus on the domestic market in Greater China and expand in other overseas markets, while disposing of the target group's North American operations.

Wasion Holdings expects to recognize a pre-tax disposal gain of approximately 13,860,000 yuan from the transaction. Following completion, the target company will cease to be a subsidiary, and its financial results will no longer be consolidated within Wasion's accounts. The proceeds are intended to strengthen the Group's general working capital and promote business development.