To HGC Investors and Relevant Stakeholders:

Following HGC's publication of the Pre-Announcement on Equity Restructuring and Strategic Development Matters and the Announcement on the Introduction of a Strategic Investor and Equity Restructuring, the Company continued to implement the restructuring plan as disclosed.

As of the date of this announcement, the principal implementation steps for the equity restructuring and the related integration of industrial assets have been completed.

The relevant details are set out below:

I. Completion of the Equity Restructuring and Integration of Industrial

Under the restructuring plan, TRUE TRADE VENTURES LIMITED, through its affiliate, has contributed the following industrial equity interests to the HGC group:

1. 100% of the equity interest in Singapore 1909 Hwappu Technology PTE Ltd;

2. 49% of the equity interest in HWAPPU 1909 FRESH WATER TECHNOLOGY CO., LTD.

Upon completion of the restructuring, TRUE TRADE VENTURES LIMITED became HGC's new controlling shareholder and obtained control of HGC (BVI) Info Tech Ltd.

The restructuring combines HGC's existing IoT capabilities with intelligent water purification equipment, industrial operating capabilities, and market resources in Southeast Asia. This provides a new industrial foundation for the further commercialization of HGC's IoT technologies.

II. Token Rights and Lock-Up Arrangements

Under the restructuring plan and the relevant shareholder resolutions, the Company has also completed the adjustments to Token-related rights associated with the restructuring.

The restructuring does not involve any additional issuance of Tokens. The total supply of HGC Tokens remains unchanged at 200,000,000.

The specific Token holdings and registration of rights following the restructuring shall be subject to the Company's official records and the relevant documents.

Under the arrangements agreed by the relevant parties:

1. The original lock-up period for the relevant Tokens held by TRUE TRADE VENTURES LIMITED or its designated entity as a result of the restructuring will be extended by one year;

2. The original lock-up period for the relevant Tokens that the existing shareholders continue to hold following completion of the restructuring will also be extended by one year.

Transfers and trading of the relevant Tokens will continue to be governed by the applicable offering documents, platform rules, and relevant laws and regulations.

III. Business Development and Commercial Application of IoT Technologies

HGC has continued to commercialize its IoT technologies through its existing business applications and has provided investors with periodic operating updates based on the development of the relevant businesses.

Following completion of the restructuring, HGC's existing IoT capabilities will be further combined with the newly introduced international industrial resources to expand the commercial applications of its IoT technologies.

HGC's IoT technologies are currently being applied to the commercial rental of intelligent water purification equipment in Singapore and Thailand. These applications include device connectivity, remote operations management, water quality data monitoring, maintenance services, and asset management.

The Company will continue to commercialize its IoT technologies in Singapore, Thailand, and other markets based on actual operating conditions, while exploring additional business applications in response to technological developments and market demand.

IV. Operating Information Disclosure Mechanism

Following completion of the equity restructuring, the Company will also improve the way it discloses routine operating information.

To provide investors with a more systematic and continuous view of the Company's operations and the commercialization of its IoT technologies, the Company plans, in principle, to publish quarterly updates on its business operations. The Company plans to release its business development update for the third quarter of 2026 in mid-October.

If any material matter requires prompt disclosure, the Company will issue a separate announcement in accordance with the applicable requirements.

The Company will continue to comply with its information disclosure obligations under applicable laws and regulations, relevant documents, and platform rules.

This announcement is hereby made.

HGC Management Team
October 02, 2026