Epower Global Limited entered into the Agreement to acquire 45% stake in iCar Group Limited from China Harmony Auto Holding Limited (SEHK:3836) from HKD 250 million on May 23, 2025.

For the period ending December 31, 2024, iCar Group Limited reported total revenue of HKD 1.94 billion.

Disposal Completion is conditional upon the fulfilment or waiver of the following Conditions:(i) the Capital Restructuring having been completed; (ii) the CS Loans Assignment and Novation having been completed; (iii) the Shareholder?s Loans Assignment having been completed; (iv) the Company having obtained the approval from the Independent Shareholders at the EGM to be convened to consider and approve the Agreement and the transactions contemplated thereunder, including without limitation the Disposal, the Capital Restructuring, the Possible Acquisition and the Possible Deemed Disposal; (v) the Company having obtained all necessary consents in relation to the transactions contemplated under the Agreement including but not limited to the consents of the Stock Exchange and the SFC and any relevant government or regulatory authorities and other relevant third parties; (vi) all representations and warranties of the Company under the Agreement being true and correct in all material respects and remaining so from the date of the Agreement up to immediately before Disposal Completion; and (vii) all representations and warranties of EGL under the Agreement being true and correct in all material respects and remaining so from the date of the Agreement up to immediately before Disposal Completion. Disposal Completion shall take place on the 3rd Business Day after the date of which the above Conditions are fulfilled or waived or such other date as may be agreed between the Company and EGL in writing.