Hong Kong—30 September 2026—DMALL Inc. announced that LumiWorld Co., Ltd., a non-wholly-owned subsidiary, has signed a capital-increase agreement with five entities ultimately controlled by Ms. Zhang Kangrong, the daughter of controlling shareholder Dr. Zhang Wenzhong. The Co-Subscribers will inject RMB36.67 million in cash to subscribe for new registered capital in LumiWorld at RMB1.00 per unit, acquiring an aggregate 55 % equity interest.

Following completion, LumiWorld’s registered capital will rise from RMB30.00 million to RMB66.67 million. DMALL’s wholly-owned arm, Dmall (Shenzhen) Digital Technology Co., Ltd., will see its shareholding fall from 51 % to 22.95 %, while LinkerBot and Shenzhen Taiyi will hold 13.05 % and 9.00 %, respectively. Lumi Investment, Lumi Base and Lumi Bond will collectively hold 35 %, and two limited partnerships—Lumi Tongxin Partnership and Lumi Huoban Partnership—will own a combined 20 %.

The dilution means DMALL will lose control of LumiWorld; the unit will cease to be consolidated and will instead be equity-accounted. Management expects any gain or loss on the deemed disposal to be minimal, with final figures to be confirmed in the 2026 annual results. As at 30 June 2026, LumiWorld’s unaudited net assets equalled its paid-in capital of RMB30.00 million.

Regulatory scrutiny is limited. Under Hong Kong Listing Rule 14.29, the capital increase constitutes a deemed disposal. Because the highest applicable percentage ratio is below 5 %, the deal is classified only as a connected transaction under Chapter 14A, requiring announcement but not independent shareholders’ approval.

According to the board, proceeds will bolster LumiWorld’s working capital and fund business development, while the partnership vehicles may support future employee incentive schemes. DMALL retains a 22.95 % stake, allowing continued participation in any subsequent value creation at LumiWorld.