Brainhole Tech (Stock Code: 02203) reported two discloseable transactions involving the open-market acquisition of shares in Applied Optoelectronics, Inc. (AOI) and AXT, Inc. (AXT). Both transactions took place on 4 March 2026 and exceeded the 5% threshold under Chapter 14 of the Listing Rules, triggering announcement and reporting requirements.

Brainhole Tech acquired 13,400 AOI shares for US$1.30 million (HK$9.90 million), financed by proceeds from a further disposal of TeraWulf shares. The average purchase price per AOI share was approximately US$95.33 (HK$741.64). AOI’s latest published data indicated a net revenue of US$455.72 million for the year ended 31 December 2025, and an audited consolidated net assets value of US$733.90 million for that same period.

Separately, Brainhole Tech acquired 29,000 AXT shares for US$1.20 million (HK$9.00 million), also financed by proceeds from a further disposal of TeraWulf shares. The average purchase price per AXT share was approximately US$39.78 (HK$309.50). AXT’s latest published data showed revenue of US$88.33 million for the year ended 31 December 2025, with an unaudited consolidated net assets value of US$296.60 million as of that date.

Brainhole Tech is principally engaged in manufacturing and trading of semiconductors, broadband infrastructure construction, and providing solutions for smart home, smart campus, and smart community applications. The company indicated that these transactions align with its strategy to diversify in innovative technologies, with the aim of expanding its investment portfolio by adding quality assets. The transactions were conducted in the open market with independent parties, and the applicable percentage ratios for each acquisition exceeded 5% but remained below 25%, designating them as discloseable transactions under Chapter 14 of the Listing Rules.