HSC Resources Group Limited — Capital/Financing Update 2024

May 17, 2024

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

HSC Resources Group Limited 鴻盛昌資源集團有限公司

(Formerly known as WINDMILL Group Limited 海鑫集團有限公司)

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1850)

COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

Placing Agent Matrix Securities Limited

Reference is made to the announcements of HSC Resources Group Limited dated 17, 18 and 30 April 2024 respectively in relation to the Placing (the “ Announcements ”). Capitalised terms used herein shall have the same meanings as defined in the Announcements unless otherwise stated herein.

COMPLETION OF THE PLACING

The Board is pleased to announce that all the conditions set out in the Placing Agreement (as amended) had been fulfilled and Completion took place on 16 May 2024. An aggregate of 28,800,000 Placing Shares have been successfully placed by the Placing Agent at the Placing Price of HK$0.67 per Placing Share pursuant to the terms and conditions of the Placing Agreement (as amended) to not less than six Placees.

To the best of the knowledge, information and belief of the Directors having made all reasonable enquiries, the Placees are professional, institutional or other investors who and whose respective ultimate beneficial owners are third parties independent of and not connected with the Company and its connected persons. None of the Placees has become a substantial shareholder (as defined under the Listing Rules) of the Company immediately upon completion of the Placing.

The 28,800,000 Placing Shares represent approximately 20.0% of the existing issued share capital of the Company as at the date of this announcement immediately prior to Completion and approximately 16.67% of the issued share capital of the Company as enlarged by the Placing Shares.

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The gross proceeds from the Placing will be approximately HK$19,296,000 and the net proceeds from the Placing (after deducting the placing commission for the Placing and other relevant expenses) will be approximately HK$18,517,000. The Company intends to apply the net proceeds from the Placing as to approximately HK$3,000,000 for repayment of shareholders loan(s), approximately HK$11,000,000 for business expansion and the remainder for general working capital of the Group.

EFFECTS ON SHAREHOLDING STRUCTURE OF THE COMPANY

The shareholding structure of the Company immediately before and after Completion are as follows:

Shareholders Li Junheng The Placees Other public Shareholders Total	Immediately before Completion Number of Shares Approximate % 14,390,000 9.90 – – 129,610,000 90.10 144,000,000 100.00	Immediately after Completion Number of Shares Approximate % 14,390,000 8.33 28,800,000 16.67 129,610,000 75.00 172,800,000 100.00

By Order of the Board HSC Resources Group Limited Li Junheng Chairman

Hong Kong, 17 May 2024

As at the date of this announcement, the Executive Directors are Mr. Li Junheng, Mr. Li Shing Kuen Alexander and Ms. Chau Ngai Mo; the Independent Non-executive Directors are Mr. Li Ka Chun Gordon, Ms. Mak Suet Man and Mr. Fu Wing Kwok Ewing.

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