Skyworth Group Limited (stock code: 00751) released its scheduled monthly update on 20 March 2026 regarding the multi-step corporate restructuring first announced on 20 January 2026. The proposal combines four inter-connected transactions:

1) a pre-conditional share buy-back to be executed via a scheme of arrangement under Section 99 of the Bermuda Companies Act; 2) an in-specie distribution of the Company’s shares in Skyworth Photovoltaic Technology Co., Ltd.; 3) a special deal concerning a rollover arrangement subject to Rule 25 of the Hong Kong Takeovers Code; and 4) the subsequent withdrawal of Skyworth Group’s listing from the Hong Kong Stock Exchange.

Key developments since the January Rule 3.5 Announcement are as follows:

• Pre-Condition (a): Skyworth Photovoltaic is engaging with its existing shareholders to secure the requisite approvals for both the proposed distribution of shares to Skyworth Group shareholders and its own separate stock-exchange listing (“Skyworth Photovoltaic Listing”).

• Pre-Condition (b): Skyworth Photovoltaic, together with external advisers, is preparing the formal listing application and related documentation for submission to the relevant regulatory authorities.

As at the announcement date, all pre-conditions to the overall Proposal remain outstanding. The Company emphasized that implementation of the share buy-back scheme and the delisting will proceed only after every pre-condition and scheme condition— including approval of the rollover arrangement—has been satisfied or, where applicable, waived.

The Board reiterated that shareholders and potential investors should exercise caution when dealing in Skyworth Group securities, given the conditional nature of the transactions.

Further announcements will be released in accordance with the Hong Kong Listing Rules and the Takeovers Code to disclose material updates, including dispatch of the scheme document once the outstanding pre-conditions are met or waived.

The Board currently comprises five executive directors and three independent non-executive directors; all directors collectively accept responsibility for the accuracy of the information contained in the update.