APPLICATION FOR AN EXTENSION OF TIME TO HOLD ITS ANNUAL GENERAL MEETING AND TO ISSUE ITSSUSTAINABILITY REPORT FOR FINANCIAL YEAR ENDED 30 APRIL 2026 

The reason for the Extension Application is that the audit of the Company' s financial statements is not expected to be completed in time for the Company to hold its annual general meeting, which is required to be held by 31 August 2026.

The request for an extension of time arises from unexpected delays in the completion of certain matters relevant to the audit of the Group' s financial statements. As previously disclosed in the Company' s announcement dated 27 May 2026, torrential rain and flash flooding that affected central and southern China in mid-May 2026 disrupted the operations of Hubei Zonglianhuan Energy Investment Group Inc., a majorityowned subsidiary of the Company based in Hubei Province. As a result, additional audit procedures are required to assess the impact of the flooding and evaluate management' s assessment of the damages sustained, the estimated repair and restoration costs, and the corresponding impairment assessment of assets within the HZLH Group.

In addition, the audits of certain subsidiaries in Singapore and the People' s Republic of China remain ongoing. As the Component Audits have not been completed, the valuation reports prepared by independent external valuers appointed by the Company for impairment assessment purposes have likewise not been finalised. Accordingly, additional time is required for the Group' s external auditor to complete the audit of the Group' s financial statements. As the Sustainability Report draws references from the Company&rsquo s annual report, which incorporates the audited financial statements, and is prepared concurrently with it, the Company has likewise sought an extension of time to issue the Sustainability Report together with the annual report by 31 October 2026.

The Company will also be making an application to the Accounting and Corporate Regulatory Authority for an extension of time under section 175(2) of the  Companies Act 1967 to hold its annual general meeting and to file the required annual returns by 31 October 2026 and 30 November 2026, respectively.

The Group holds an 81.25% equity interest in ESA Electronics Pte Ltd. ESA is a Singapore incorporated company engaged in the business of assembling, trading and providing consultancy services in the semiconductor industry. ESA also acts as agents and distributors of semi-conductor back-end equipment such as vision inspection systems and test systems. 

ESA&rsquo s revenue was significantly higher for FY26 being S$23.2 million compared to S$15.0 million in FY25. This was due to industry drivers for high demand of memory chips as a result of expansion of AI data centres in Asia.

The Group&rsquo s wholly-owned subsidiary Excellent Empire Limited, via its 100% owned subsidiary China Environmental Energy Protection Investment Limited, holds 65% equity interest in HZLH. HZLH in turn holds a 100% equity interest in four companies supplying natural gas under 30-year exclusive contracts with the cities of Anlu, Dawu, Xiaochang, and Guangshui in Hubei Province, People&rsquo s Republic of China.

HZLH&rsquo s FY26 revenue of S$59.9 million was lower when compared to S$62.4 million in FY25. The downturn in the China real estate market in HZLH&rsquo s concession areas still significantly impact installation and connection revenue.

Despite the lower revenue for FY25 it is encouraging that local governments have implemented the new gas pricing policy which should positively impact results by improving margins. Please see the Company&rsquo s announcement on 18 November 2025. HZLH has already commenced the necessary administrative work and began lobbying respective governments for the next review. 

As announced on 27 May 2026 and 14 June 2026 the Company reported that torrential rain and flood flashing had affected the operations of HZLH and provided an estimate on the damage and impact across the four concessions. Kindly refer to those announcements which provides the relevant detail. The Company will make further announcements in relation to the flooding situation and its impact on HZLH as and when there are material developments.

With respect to our Falling Water Project located in Pierce County, near the cities of Seattle and Tacoma in the State of Washington, USA, management continues to work with its advisors to assess and determine the most lucrative development potential for the remaining acreage permitted under the current local zoning restrictions. Under the current zoning, normal development permitted includes sports facilities, religious buildings and educational centres. Management plans to engage with the relevant authorities to explore re-zoning. 

Entry into exclusive marketing agreement with Maxstar International Sdn Bhd

This agreement with Maxstar, under which Renaissance United Washington, LLC, a wholly owned subsidiary of the Company, was appointed exclusive marketing agent for the marketing and distribution of Maxstar&rsquo s custom kitchen furniture in the USA was an initiative to generate an additional revenue stream for the Group. The planned increase for U.S. tariffs on imported kitchen cabinets and bathroom vanities from 25% to 50% which was originally scheduled to commence on 1 January 2026 was officially delayed.

Pelangi Acquisition

The developer SP Setia Berhad has been issued the strata title and the Company is making arrangements for its collection. The premises is fully tenanted. 

Skyline One Sentosa

As announced on 22 October 2025 and 22 January 2026 the Company had entered into a Sale and Purchase agreement with Plaza Sentosa Properties Sdn. Bhd for the acquisition of eight dual key units of serviced apartment, within Aloft Tower, forming part of a development known as &ldquo Skyline One Sentosa&rdquo . For further information, please refer to said announcements. 

Expansion into new markets and diversification of property business

The Company is currently updating the circular to include the Skyline One Sentosa units. Once the circular is ready for dissemination, the Company will make an announcement and notify shareholders of the date an extraordinary general meeting will be held.


 

FURTHER UPDATE ON FLOODING AFFECTING HZLH

1. Further to the Board of Directors' announcement dated 27 May 2026 regarding the torrential rain and flash flooding affecting central and southern China, the Board of Renaissance United Limited provides the following update on the impact of the flooding on the Group&rsquo s majority-owned subsidiary, Hubei Zonglianhuan Energy Investment Group Inc., and the progress of recovery. This update is based on an initial assessment on reports provided by local management following meetings with HZLH&rsquo s operational teams.


2. Status of Recovery Efforts. Since the &ldquo 5.25&rdquo rainstorm disaster, all project companies of HZLH have, under the coordination of HZLH&rsquo s emergency command team, substantially completed water drainage, mud removal and preliminary hazard inspections. The focus has shifted from emergency response to facility repairs, production recovery and insurance claim assessment. As at the afternoon of 29 May 2026, there have been no casualties and no secondary safety incidents, including gas leaks, at any of the project companies. The HZLH management teams across all four concessions have been engaging regularly with the relevant departments as part of recovery and normalisation efforts.


3. Preliminary Assessment. Based on the preliminary damage assessment, the estimated impact across HZLH&rsquo s project companies is as set out below. The figures presented are preliminary estimates only, are subject to change, remain subject to verification and, where applicable, insurance assessment:

Concession Preliminary Damage Assessment and Estimated Repair Costs

Anlu  -  Damage to gas meters, pipelines and a metering cabinet has affected operations. Gas meter replacement is underway, with pipeline repair works ongoing. Estimated repair costs, comprising labour, materials, construction equipment, measures (including safety and civilised construction fees) and VAT, are in the range of approximately RMB900,000 to RMB1.0 million.

Dawu  - Gas services have been largely restored. Pipeline and electrical repairs are in progress and reconstruction of a collapsed wall has been submitted to the relevant local authority for approval. Estimated repair costs, comprising labour, materials, construction equipment, measures (including safety and civilised construction fees) and VAT, are in the range of approximately RMB340,000 to RMB380,000.

Guangshui - Damage to gas meters, pipelines, monitoring equipment and service buildings has affected operations. All loss and damage sustained is pending insurance assessment, with insurance inspection completed and damage assessment for monitoring equipment underway. Estimated repair costs, comprising labour, materials, construction equipment, measures (including safety and civilised construction fees) and VAT, are in the range of approximately RMB1.4 million to RMB1.55 million.

Xiaochang - Damage appears relatively insignificant, and operations are gradually returning to normal. No material repair costs are currently expected. 

The exchange rate as per the Monetary Authority of Singapore website 3pm 12 June 2026 was RMB1 to S$0.1899.

4. Company Management&rsquo s Commentary.

(a) The Group holds a 65% equity interest in HZLH through its wholly-owned subsidiary, Excellent Empire Limited, which in turn holds its interest via Excellent Empire Limited' s wholly-owned subsidiary, China Environmental Energy Protection Investment Limited. HZLH in turn holds a 100% equity interest in four operating companies, each of which supplies natural gas under a separate 30-year exclusive concession in the cities of Anlu, Dawu, Xiaochang, and Guangshui in Hubei Province, the People&rsquo s Republic of China.

(b) While operations have begun to resume, it remains difficult at this stage to assess the materiality of the financial impact of this natural disaster on the Group' s revenue. Many non-core, service and industrial customers have yet to resume normal operations and should the lead time required by industrial users be prolonged, this would likely have a material impact on the financial results of HZLH, particularly as the Group' s industrial customers are also reliant on the resumption of other key services.

(c) In addition, the appointed insurance assessors will require some time to consider and process the insurance claims, and it may take a considerable amount of time to assess the long-term damage to the city gas grids. Although operations have resumed, they remain subject to strict safeguards and continue to be carefully monitored. 

(d) In the meantime, regular reports continue to be made to the Group' s relevant government stakeholders, and the Company will also consult its external auditors in relation to any disclosure requirements arising under the applicable accounting standards in relation to these events.

5. The Company will make further announcements in relation to the flooding situation and its impact on HZLH as and when there are material developments.

6. Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company. Shareholders and potential investors are advised to read this announcement and any further announcements by the Company carefully, and should consult their stock brokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take. 

Flooding affecting the Group' s Hubei Zonglianhuan Energy Investment Group Inc.

1.The Board of Directors of Renaissance United Limited would like to announce that the torrential rain and flash flooding affecting central and southern China since mid-May 2026, spanning eight provinces including Hubei, Hunan, Jiangxi, Anhui, Guizhou, Guangxi, Guangdong and Hainan, has disrupted the usual operations of the Group&rsquo s majority owned subsidiary HZLH which is based in Hubei province. China&rsquo s State Flood Control and Drought Relief Headquarters activated a Level-IV emergency response for Hubei and Chongqing on 23 May 2026, with cumulative rainfall in parts of the region reportedly exceeding historical records.

2. All employees are safe from the hazards caused by the weather pattern, and the majority of the gas facilities of HZLH are not affected. However, the flash flood has disrupted and resulted in temporary work stoppages. The management is currently trying to assess the full impact of the flooding on its supply lines and gas grid. The Group' s insurance company has been notified and will be assessing the claim and damages in due course.

3. The Board wishes to highlight that whilst the impact assessment of the flooding at HZLH is being carried out, the Group has activated its business continuity plan to mitigate operational disruption including prioritisation of critical customers, close coordination with local authorities and emergency services, and continuous monitoring of weather and infrastructure conditions. The Board envisages that regular operations at HZLH will resume substantially once power and local transport links are restored to normal.

4. The Company will make further announcements in relation to the flooding situation and its impact on HZLH as and when there are material developments.

 

Renaissance United Likely To Announce Their FY26 Results On Or Before 26 June!

Expect ESA Electronics To Post Exceptional Strong Growth Due To Increasing Core Driver Burn-In Demand, Driven By AI Infrastructure Boom, Soaring Semiconductor Volume, EV Automotive and Industrial IoT Hardware.

HZLH Gas Business Likely To Post A Q4 On Q4 Profit With Minimum Capex And Stable Revenue. Free Cash Flow Likely To Significantly Pile On Cash & Bank Balance Of S$6,498,000 (RMB$35,362,000), Previously Reported As Cash Held Within The China Subsidaries.

If Management Perform An Impairment Reversal Of The Gas Business During The Year End Evaluation, It Might Potentially Claw Back Millions Of Reversed Impairment Into The Profit.

Capri Investment LLC Likely To Con' t With Its Groundwork & Permit Application Etc. And Are Not Expected To Made Any Contribution This Quarter!

Above Just My Observation And Nothing Concrete!

Not A Buy Call, Please DYODD!


 

Active Legal Groundwork is Already Underway

As part of a broad mandate issued by the Hubei provincial government, all regional utility networks were instructed to update their legacy agreements. HZLH has used this regulatory requirement to strengthen its long-term contract status:
 

 

Upstream Price Reforms Strengthen Their Eligibility

To qualify for a concession extension or expansion under China&rsquo s updated Public-Private Partnership (PPP) laws, a utility provider must demonstrate operational stability and financial sustainability. HZLH secured a key mechanism to meet this requirement:
 

 

 

 

The Path to Formalizing the 40-Year Terms

To permanently transition the current 12-to-16 year remaining balance out to a full 40-year timeline, HZLH' s corporate parent, Renaissance United Limited, utilizes a multi-step compliance process.
 

 

Under China&rsquo s Public-Private Partnership (PPP) and public utility concession mechanisms, the maximum concession period was extended from 30 years to 40 years (and potentially longer for massive structural projects) to stimulate long-term private capital investment.

Once a formal renewal or new 40-year framework amendment is executed with the Hubei municipalities, the remaining book value is redistributed across a much longer timeline. This extension stretches out the remaining lifecycle, instantly lowering the annual non-cash amortization hit on the income statement.

 

 

Reversal and Mitigation of Asset Impairment Losses

HZLH recently incurred a S$7.89 million non-cash impairment loss due to near-term real estate slowdowns across its Hubei distribution zones. Under accounting principles, impairment testing calculates the " value-in-use" by modeling the net present value of expected cash flows generated through the end of the concession timeline.
 

HZLH can absolutely apply to transition and upgrade to a new 40-year concession contract. The company is already navigating the required structural updates with the local governments of Anlu, Dawu, Xiaochang, and Guangshui to reposition its framework agreements.



 

 

The remaining life on HZLH&rsquo s original 30-year exclusive concession contracts is approximately 12 to 16 years.

Because the four municipal concessions (Anlu, Dawu, Xiaochang, and Guangshui) were progressively granted and formalized between 2008 and 2012, the baseline timeline tracks as follows:
 

These gas assets can operate beyond the original 30-year concession licence, but they do not automatically roll over. Under China' s modern municipal framework and recent regulatory revisions, the continuation of operations relies on a formal legal process of concession renewal, structural re-negotiation, or asset evaluation.

The Right to Apply for Renewal (The Standard Path)

Under Chinese municipal law, exclusive utility concessionaires have the legal right to apply for a licence extension (typically for another 20 to 30 years) before the original expiration date.
 

 

• The updated concession amendments signed by HZLH explicitly provide legal clarity on the process by which the subterranean pipeline networks and city gate assets will be evaluated and transferred.

 

• In a non-renewal scenario, the local municipal government or a designated State-Owned Enterprise (SOE) buys out the physical pipeline asset network at an appraised fair market value. This ensures that local residents in Anlu, Dawu, Xiaochang, and Guangshui experience zero disruption in gas delivery, regardless of who holds the operating licence.

 

China is witnessing a notable migration reversal, with populations and manufacturing shifting from megacities (Tier-1) like Beijing, Shanghai, and Guangzhou, to lower-tier cities (Tier-2 to Tier-4). This decentralization is driven by the soaring cost of living, strict residency (hukou) quotas, and an economic shift that has pushed jobs and government investment inland.

The cities benefiting the most from this migration reversal are primarily " New Tier-1" hubs and booming inland provincial capitals. These locations are absorbing the massive influx of tech talent, corporate relocation, and middle-class consumers leaving China' s traditional coastal megacities.

Wuhan: The Central Engine (" New Tier-1" Powerhouse)

Wuhan is capturing a Massive Population Influx reversing out of coastal megacities. In a single year following the implementation of aggressive talent-attraction policies, it led all Chinese cities by expanding its permanent resident population by 1.2 million people.

As coastal megacities and Wuhan Metropolitan Area (WMA) corridor itself experience soaring land and operational costs, fringing county-level regions like Anlu, Xiaochang, Dawu, and Guangshui  are transforming into high-growth manufacturing hubs from the spill-over.

How the Local Industrial and Migration Influx Benefits HZLH

The macro population shift from Tier-1 megacities down to the Wuhan Metropolitan Area (WMA) periphery directly strengthens HZLH&rsquo s core business segments:
 

• Surging Industrial Gas Volumes: As industrial output scales up across the Wudian Town Industrial Park in Guangshui and automotive parts manufacturing lines in Xiaochang, the volume of high-margin industrial gas consumed via HZLH' s infrastructure expands exponentially.

 

• Long-Term Residential Consumption Growth: Returning migrants settling down in these four cities create a highly stable, long-term consumer base for residential cooking and heating, counteracting any slowdowns in new building installations.

This massive influx of population and industrial relocation into Anlu, Xiaochang, Dawu, and Guangshui is shifting the customer base for the local gas monopoly, heavily towards high-volume wholesale distribution in industries below

1. Automotive Parts and Components Manufacturing (Xiaochang)
2. Machinery and Precision Engineering (Anlu)
3. Glass, New Materials, and Ceramics (Xiaochang & Dawu)
4. Advanced Agro-Processing and Food Logistics (Anlu)

As part of the Wuhan Metropolitan Area' s larger master plan, Wuhan functions as the core R& D and clinical medical hub, while its surrounding peripheral cities are rapidly constructing integrated biomedical and health industrial parks.These medical and pharmaceutical industries are emerging as highly specialized, energy-intensive natural gas consumers across Anlu, Xiaochang, Dawu, and Guangshui.

 

" Wider network of contacts and opportunities. Entering the new markets also brings with it new contacts, clients, and business opportunities, which can bring further opportunities of other businesses, including sustainable and green businesses for the Group to consider and enter into, with shareholders&rsquo approval, if it should come to pass."