SINGAPORE, July 22, 2026 - (ACN Newswire via SeaPRwire.com) - SuperX AI Technology Limited (NASDAQ: SUPX, hereinafter referred to as "SuperX") and Mercuria Asia (hereinafter referred to as "Mercuria"), the Asia Pacific platform of Mercuria Energy Group today announced the establishment of a strategic partnership. As part of this partnership, Mercuria Asia has made a strategic investment in SuperX through a convertible note and warrant subscription agreement. The two parties will draw on their respective strengths in global energy, power optimization, capital deployment, and AI data center technology to pursue in-depth cooperation in global AI infrastructure development, jointly advancing the integration of energy solutions and AI infrastructure.The parties will focus on global AI data center development, optimized allocation of power resources, and innovation in energy management, exploring new models of synergistic development among energy, technology, and capital to deliver efficient, reliable, and sustainable global AI computing infrastructure solutions, providing long-term support for the continued growth of the global AI industry.Dr. Huang Chenhong, Chairman and Chief Executive Officer of SuperX, commented: "This long-term strategic partnership with Mercuria represents a significant milestone in SuperX's global expansion. The core long-term challenge for the AI computing power industry lies in electricity costs and low-carbon compliance pressures. Mercuria's global energy network, asset management expertise, and structured energy solutions precisely address our key gaps. Our collaboration will accelerate the implementation of overseas projects in Indonesia, Japan, Thailand, and other regions, while establishing differentiated advantages in green computing power and continuously enhancing the company's long-term profitability and investment value. Building on this partnership, we will deliver more cost-competitive and sustainable AI factory solutions to customers worldwide."Mr. Jin Han, Board Member of Mercuria Group and Chief Executive Officer of Mercuria Asia, stated: "AI infrastructure is becoming a vital conduit for the integrated development of the global energy system and the digital economy. As AI advances rapidly, global computing power demand continues to surge, placing higher demands on stable, low-cost, and sustainable energy supplies while creating new opportunities in energy management, power trading, and infrastructure investment.Mercuria has long focused on infrastructure investments that enhance global energy efficiency and resource allocation. Investing in AI infrastructure is both an important practice in advancing Mercuria's energy strategy and a key direction in positioning for the future energy ecosystem. Our focus extends beyond computing power itself to the long-term industrial value created by the deep integration of energy and AI."SuperX holds leading advantages in full-stack AI data center technology, global deployment, and operations. Mercuria possesses a worldwide energy network, capabilities in power optimization and price risk management, structured financing expertise, and extensive experience in energy asset investment and operations. The complementary strengths of both parties establish a solid foundation for long-term cooperation.Looking ahead, the two parties will deepen cooperation in energy security, AI data center development, and global computing infrastructure, driving the integration of energy and computing power to build an efficient, reliable, and sustainable global AI infrastructure platform that supports the long-term growth of the global AI industry.Mercuria is committed to creating value across the global energy and commodities value chain. The company continuously invests in innovative companies and technologies, strengthens long-term energy security, and optimizes resource allocation through its global network to meet growing energy demand. This partnership with SuperX marks an important step in extending Mercuria's global energy capabilities into the AI era, and reflects its continued commitment to future infrastructure and long-term growth industries.About SuperX AI Technology Limited (NASDAQ: SUPX)SuperX AI Technology Limited is a provider of AI infrastructure solutions, offering AI data centers a comprehensive portfolio that includes proprietary hardware, advanced software, and end-to-end services. The company's offerings encompass advanced solution design and planning, cost-effective infrastructure product integration, and end-to-end operations and maintenance. Its core products include high-performance AI servers, 800-volt direct current (800VDC) solutions, high-density liquid cooling solutions, as well as AI cloud services and AI agents. Headquartered in Singapore, SuperX serves institutional clients globally, including enterprises, research institutions, and cloud and edge computing deployments. For more information, please visit www.superx.sg.About MercuriaMercuria Asia is the Asia Pacific platform of Mercuria Energy Group, one of the world's largest independent energy and commodities groups. Headquartered in Singapore, Mercuria Asia leads the Group's regional energy trading, investment, and infrastructure activities across Asia Pacific. The Group, founded in Geneva, Switzerland, operates globally across the energy value chain, including crude oil and refined products, natural gas and LNG, power, renewable energy, metals, and carbon markets, and is recognized for its strong focus on risk management, compliance, and operational excellence, and for its investment in energy solutions that support global energy security and the energy transition.Safe Harbor Statement This press release may contain forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The reader is cautioned not to rely on these forward-looking statements. The forward-looking events discussed in this press release, including delivery schedules, production capacity, and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.Follow Our Social Media- Investor Relations: ir@superx.sg- X: @SUPERX_AI_- LinkedIn: SuperX AI- Facebook: SuperX AI Technology Limited Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

Z Fin Limited Receives Privatisation Proposal from Controlling Shareholder by Way of Scheme of Arrangement

July 21, 2026

Key Highlights of the Privatisation Proposal of Z Fin Limited- Cash Cancellation Price of HK$6.60 per Scheme Share, representing a premium of approximately 61.37% over the closing price of HK$4.09 per Share on the Last Trading Day, and a premium of approximately 119.27% over the average closing price of approximately HK$3.01 per Share for the 30 trading days;- The Offeror will not increase the Cancellation Price and does not reserve the right to do so;- If the Scheme is not approved or the Proposal otherwise lapses, the Offeror does not intend to make or pursue any further proposal for the privatisation of the Company within five years;- The Offeror and the Offeror Concert Parties together hold approximately 64.86% of the issued Shares of the Company. The Proposal will involve the cancellation of 154,429,004 Scheme Shares, with the maximum cash consideration payable by the Offeror under the Proposal is approximately HK$1.019 billion;- The Proposal provides the Scheme Shareholders with an immediate opportunity to realise their investments in cash - the trading liquidity of the Shares has remained low for a sustained period, with a average daily trading volume for the 30 trading days up to and including the Last Trading Day representing only approximately 0.05% of the Shares in issue;- The privatisation of the Company is expected to enable the Offeror to make strategic decisions focused on the Company's long-term growth and benefits, free from the pressure of market expectations, share price fluctuations and compliance requirements arising from the Company being a publicly listed company, while reducing the administrative costs and management resources associated with maintaining the Company’s listing status;HONG KONG, July 22, 2026 - (ACN Newswire via SeaPRwire.com) - Z Fin Limited (the "Company", stock code: 1168) and Asia Pacific Promotion Limited (the "Offeror") today jointly announced that, on 9 July 2026 (after trading hours), the Offeror requested the Board to put forward the Proposal to the Scheme Shareholders for the privatisation of the Company by way of a scheme of arrangement under section 99 of the Companies Act, together with the proposed withdrawal of the listing of the Shares on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").Cancellation Price of HK$6.60 per Share, a Premium of Over 60%; the Offeror Will Not Increase the Cancellation PriceSubject to the satisfaction or waiver (where applicable) of the Conditions and the Scheme becoming effective, all Scheme Shares will be cancelled and the Scheme Shareholders will be entitled to receive HK$6.60 in cash for every Scheme Share cancelled. The Offeror will not increase the Cancellation Price and does not reserve the right to do so. As at the Announcement Date, the Company has no declared but unpaid dividends and/or distribution, and/or other return of capital and the Company does not intend to announce, declare and/or pay any dividend, distribution or other return of capital before the Effective Date.The Cancellation Price represents a premium of approximately 61.37% over the closing price of HK$4.09 per Share on the Last Trading Day (9 July 2026), and a premium of approximately 119.27% over the average closing price of approximately HK$3.01 per Share for the 30 trading days. Although a discount of approximately 72.13% to the audited consolidated net asset value attributable to owners of the Company per Share of approximately HK$23.68 as at 31 December 2025, in determining the Cancellation Price, the Offeror has taken into account that the Shares have consistently traded at a substantial discount to the NAV per Share. The Offeror is of the view that the Proposal provides the Scheme Shareholders with an opportunity to monetise their investments at a price materially above the prevailing and historical market prices of the Shares.As at the Announcement Date, the Company has 436,347,212 Shares in issue, of which 154,429,004 Shares will form the Scheme Shares. The Offeror and the Offeror Concert Parties together hold 283,020,958 Shares, representing approximately 64.86% of the issued Shares. On this basis, the maximum cash consideration payable by the Offeror under the Proposal is approximately HK$1,019,231,427. Merdeka, the financial adviser to the Offeror, is satisfied that sufficient financial resources are available to the Offeror to satisfy the maximum amount of cash consideration payable under the Proposal.Reasons for the Privatisation: Low Trading Liquidity, Challenging Market Conditions and Limited Benefits of ListingThe trading liquidity of the Shares has remained low for a sustained period. The average daily trading volume of the Shares for the 30, 90 and 365 trading days up to and including the Last Trading Day were approximately 237,947 Shares, 217,364 Shares and 650,786 Shares per day, representing only approximately 0.05%, 0.05% and 0.15% of the Shares in issue, respectively. The low trading liquidity may make it difficult for the Scheme Shareholders to execute substantial on-market disposals without adversely affecting the price of the Shares. The Offeror is of the view that the Proposal provides the Scheme Shareholders with an immediate opportunity to realise their investments in cash and reallocate the proceeds to alternative investment opportunities.The majority of the Company's revenue has been generated from its property-related businesses in the PRC, in particular its property investment and property management operations. The PRC property market has continued to face challenging and uncertain conditions, affected by, among other things, weak market sentiment, cautious purchaser confidence, pressure on property sales and rental demand, and liquidity constraints within the property sector. In addition, although ZA Bank Limited achieved profitability for the first time in 2025, ZhongAn Technologies International Group Limited, in which the Company holds approximately 43.50% equity interest, remained loss-making on a consolidated basis.Due to the relatively low trading liquidity of the Shares and the sluggish trading price performance, the Company has not conducted any equity fund raising activities since 2021 and has been unable to fully utilise its listing platform as a source of funding for its long-term growth. It is expected that the continued listing of the Shares may not provide any meaningful benefit to the Company in the near future. Following the privatisation, the Offeror will be able to make strategic decisions focused on the Company's long-term growth and benefits, free from the pressure of market expectations, share price fluctuations and compliance requirements arising from the Company being a publicly listed company, while reducing the administrative costs and management resources associated with maintaining the Company's listing status and complying with regulatory requirements.Existing Businesses to Continue after Privatisation; No Further Privatisation Proposal within Five Years if the Scheme is Not ApprovedThe principal business of the Company focuses on financial technology investment and management, financial service sector and asset financing management, and the Company is also engaged in property development, commercial property investment and management, financial products and securities investment. The Offeror intends for the Company to continue carrying on its existing businesses following the implementation of the Proposal, and does not have any plans to make any material changes to the existing business and operation, or the management and employees of the Company (other than those in the ordinary course of business of the Company). The Offeror has confirmed that, if the Scheme is not approved or the Proposal otherwise lapses, it does not intend to make or pursue any further proposal for the privatisation of the Company within five years from the date on which the Scheme is not approved or the Proposal otherwise lapses.The Proposal and the Scheme will only become effective subject to the satisfaction or waiver (where applicable) of a number of Conditions, including the approval of the Scheme at the Court Meeting, the passing by the shareholders at the SGM of a special resolution, and the sanction of the Scheme by the Court. All of the Conditions will have to be fulfilled or waived on or before 31 December 2026 (the "Long Stop Date"). If the Scheme is not approved or the Proposal otherwise lapses, the listing of the Shares on the Stock Exchange will not be withdrawn.An Independent Board Committee, comprising all of the independent non-executive Directors, being Mr. CHEUNG Adrian Jeremy Ka Hing, Mr. TIAN Jin and Mr. XIN Luo Lin, has been established by the Board, to make a recommendation, after taking into account the advice and recommendation from the Independent Financial Adviser. The Scheme Document will be despatched to the Shareholders within 21 days of the Announcement Date. At the request of the Company, trading in the Shares on the Stock Exchange was halted from 9:00 a.m. on 10 July 2026, and an application has been made by the Company to the Stock Exchange for the resumption of trading in the Shares with effect from 22 July 2026.Disclaimer:All capitalised terms used but not otherwise defined in this press release shall have the same meanings as those defined in the joint announcement dated 21 July 2026 (the “Joint Announcement”). This press release should be read in conjunction with the full text of the Joint Announcement, which is available at: https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0721/2026072101177.pdf Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

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CMBC Capital (01141.HK): A Vanguard of Value Revaluation, Davis Double Play Opens a New Chapter for Hong Kong-Listed Financial Holding Companies

July 21, 2026

HONG KONG, July 22, 2026 - (ACN Newswire via SeaPRwire.com) - Since 2024, after undergoing deep adjustments, the Hong Kong capital market has turned a corner. With the shift in global liquidity expectations and the continued recovery of domestic economic fundamentals, the Chinese financial stock sector is becoming a "value depression" that capital is eagerly chasing. In this sweeping market trend, CMBC Capital (01141.HK), with its unique "banking group" background, highly competitive valuation safety cushion, and dual efforts in investment banking and asset management, has charted a remarkable independent upward trajectory. This is not a random emotional outburst, but an inevitable correction of its long-undervalued intrinsic value.(CMBC Capital joined the Stock Connect program in 2017, with its historical market capitalization peaking at HK$30 billion)I.Clearing the Fog: The Deep Logic Behind This Year’s SurgeFor investors, short-term stock price fluctuations may seem dizzying, but a return to rationality will ultimately dominate long-term trends. Reviewing CMBC Capital’s strong performance since 2025, it is the result of a resonance of "favorable timing, geographical advantage, and human harmony," making its rise highly reasonable and inevitable.First, the warming macro environment provided the "favorable timing." As the Federal Reserve’s rate-hiking cycle nears its end, expectations for a global liquidity inflection point have become clear. The linked exchange rate system pegging the Hong Kong dollar to the US dollar makes the Hong Kong market extremely sensitive to liquidity changes. Lower capital costs directly benefit brokerages and investment banks whose main business is financial services. As an active Chinese-funded financial institution in Hong Kong, CMBC Capital directly benefits from the recovery in market turnover and improved risk appetite. Since the beginning of this year, the average daily turnover of the Hong Kong stock market has significantly expanded, and the increased market trading activity has directly boosted brokerage profits, while also creating a favorable market environment for CMBC Capital’s other financial businesses.Second, the "geographical advantage" of the "China Special Valuation" and the revaluation of Hong Kong financial stocks cannot be ignored. In recent years, regulators have repeatedly emphasized the need to establish a valuation system with Chinese characteristics, calling on investors to pay attention to the intrinsic value of central and state-owned enterprises. As an important capital operation platform of China Minsheng Bank in Hong Kong, CMBC Capital possesses a pure "state-owned" pedigree and strong shareholder backing. Previously, small and medium-sized Hong Kong financial stocks were generally extremely undervalued by the market, with share prices even falling below net asset value. CMBC Capital’s rise is essentially a collective "correction" by the market for such assets that have strong backgrounds but severely mismatched market capitalizations.Finally, the improvement in the company’s own fundamentals constitutes the "human harmony." Facing a complex market environment, CMBC Capital did not passively wait but actively optimized its business structure, reduced high-risk assets, and focused on corporate financing, asset management, and securities trading businesses with long-term growth potential. This strategic determination of "improving quality and efficiency" allowed the company to accumulate substantial energy during the industry downturn, which can quickly transform into performance momentum once the market trend shifts. Therefore, the sharp rise in the stock price since the beginning of this year is the market’s immediate feedback on the success of its strategic adjustments and an advance pricing of its future profitability recovery.II.Backed by a Giant: Strong Shareholder Background and Unique Resource EndowmentsWhen evaluating the investment value of an investment bank or financial holding company, shareholder background is often the key factor that determines the height of its ceiling. In this regard, CMBC Capital possesses a "moat" that is the envy of its peers.As a key financial platform under China Minsheng Bank (full name "China Minsheng Banking Corp., Ltd."), CMBC Capital not only relies on this major Chinese joint-stock commercial bank but is also deeply integrated into Minsheng Bank’s global strategic layout. This unique identity as a "bank-affiliated" securities firm brings CMBC Capital three irreplicable advantages:First, advantages in funding costs and funding channels. The essence of a financial institution is managing risk and capital. In the current market environment, the strength of financing capabilities directly determines a brokerage’s room for survival and pace of development. Leveraging the strong capital strength and excellent credit rating of China Minsheng Bank, CMBC Capital has a natural advantage in securing financial support and reducing financing costs. Whether participating in IPO underwriting, bond issuance, or margin financing business, CMBC Capital can obtain more ample funding "ammunition" at lower costs, thereby seizing opportunities in the fierce market competition.Second, a strong client network and project pipeline. Minsheng Bank has a broad corporate client base, with deep expertise particularly in the private economy and micro and small enterprises. This provides Minsheng Capital with a steady stream of high-quality project pipelines for its investment banking business. In recent years, as demand for Hong Kong IPOs by Chinese companies has recovered and the need for offshore debt restructuring and refinancing among existing enterprises has surged, Minsheng Capital can leverage shareholder connections to reach core clients at the earliest opportunity and secure quality assets. This "internal circulation" business collaboration model significantly reduces its client acquisition costs and increases the success rate of business execution.Third, a rigorous risk control system. Financial markets are ever-changing, and risk management capability is the lifeline of a financial institution. CMBC Capital has inherited the bank-level risk control standards of its shareholder and established a rigorous and prudent comprehensive risk management system. During periods of severe market volatility, this robust risk control culture has enabled the company to effectively avoid major risk exposures and maintain excellent asset quality. For investors, investing in CMBC Capital is not only an investment in its growth potential but also an investment in its safety and certainty.III.Building Earnings Momentum: Multiple Business Segments Thriving, Poised for a Profit SurgeUltimately, share price gains must be backed by earnings. Looking ahead, CMBC Capital’s earnings growth drivers are clearly visible, with each business segment on the cusp of a breakout, providing the most solid foundation for sustained share price appreciation.1.Investment Banking: Capitalizing on the Hong Kong IPO Recovery to Build a New Growth Engine.With the implementation of Hong Kong stock market reforms and growing global capital market interest in China’s competitive industries such as emerging technology, new energy, and biomedicine, the Hong Kong IPO market is entering a new period of vibrancy. CMBC Capital has long been positioned in mezzanine financing, IPO sponsorship, and bond underwriting, accumulating extensive experience. Leveraging project resources from its shareholder background, the company is well-placed to secure more high-profile mandates in this IPO revival wave, potentially achieving leapfrog growth in investment banking revenue.2.Asset Management and Wealth Management: Tapping the Vast Wealth Management Blue Ocean.As the wealth management needs of high-net-worth individuals become increasingly diverse, Hong Kong, as a hub connecting mainland China and global capital markets, enjoys broad prospects in wealth management. CMBC Capital is actively expanding in asset management, generating steady returns for clients through fund launches and investment advisory services. Against the backdrop of declining bank deposit rates, there is strong appetite for high-yield alternatives, and CMBC Capital’s ability to design quality financial products positions its asset management business for explosive growth, thereby contributing stable management fee income.3.Securities Brokerage and Margin Financing: Benefiting from Active Market Trading.Securities brokerage serves as the "ballast" for brokerages. As Hong Kong market sentiment recovers, trading frequency among retail and institutional investors has increased significantly. CMBC Capital has continuously optimized its online trading platform in recent years, enhancing customer experience and steadily expanding its client base. Meanwhile, through margin financing and securities lending, the company can generate stable interest income from idle funds. The more active the market, the greater the earnings elasticity of this segment, providing the company with ample operating cash flow.IV.Valuation Perspective: Still in a Value Trough with Ample Upside PotentialAlthough CMBC Capital’s share price has already performed impressively this year, if we take a longer view and compare it both horizontally and vertically from the perspective of valuation-growth alignment (PEG), we find that its current share price remains in a clear value trough, with substantial room for further appreciation.Vertically, the valuation has yet to fully recover. Compared to historical valuation levels, CMBC Capital’s current price-to-book (PB) and price-to-earnings (PE) ratios are still in the mid-to-low range historically. While the share price has risen, this largely reflects a correction from previously extreme pessimistic expectations. At present, the company’s share price has not fully priced in its future earnings growth prospects. Once the interim or annual results confirm high growth, the valuation center will shift further upward.Horizontally, the cost-effectiveness advantage is significant. Compared to other Chinese brokerages and small financial holding companies listed in Hong Kong, CMBC Capital’s valuation still offers clear cost-effectiveness. In particular, given its unique resource endowment backed by Minsheng Bank and its forward-looking strategic positioning in investment banking transformation, it should command a certain valuation premium. However, the current market valuation has yet to fully reflect its "intrinsic value." This mismatch between valuation and fundamentals presents the best opportunity for smart money to enter.Furthermore, from a technical analysis perspective, CMBC Capital’s recent share price increase has been accompanied by a significant expansion in trading volume, indicating signs of major capital accumulation. With strong share lock-up and an upward channel already established, the momentum for further price advances remains robust against a backdrop of stable or improving fundamentals.V.Conclusion: Seize the Golden Opportunity and Join the Value FeastThe rise of CMBC Capital (01141.HK) this year is the result of a confluence of fundamental, policy, and capital factors, and its upward logic is rock-solid. Looking ahead from the current juncture, what we see is not the end of the rally, but the beginning of a brand-new starting point.Backed by the strong support of Minsheng Bank, the company enjoys three core advantages in capital, projects, and risk control. On the business front, its three engines—investment banking, asset management, and brokerage—are poised for takeoff, with a high degree of certainty in earnings realization. On the valuation front, it remains at historical lows, offering significant margin of safety and catch-up potential. Amid the broader revaluation wave in Hong Kong’s financial sector, CMBC Capital is undoubtedly the most dazzling gem. Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

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