The Generation Essentials Group SEC Filings

The Generation Essentials Group appointed Mr. Raymond Yung as an independent director, effective October 20, 2025. Mr. Yung brings over 40 years of experience advising financial institutions in Hong Kong and Mainland China, including senior roles at PricewaterhouseCoopers and Arthur Andersen, and board service at Citibank (Hong Kong) Limited. He also serves as an independent director of AMTD IDEA Group, the Company’s controlling shareholder.

On the same date, founder Dr. Calvin Choi and CFO Mr. Samuel Chau resigned from the board following completion of the business combination process, consistent with AMTD Group’s policy of fully independent boards. The Company stated their resignations were not due to any disagreement regarding operations, policies, or practices.

The Generation Essentials Group disclosed three short press items: completion of a business combination with Black Spade Acquisition II Co, a proposal with AMTD IDEA and AMTD Digital to launch a crypto conversion program, and a declaration of long‑term commitment from executive directors and core management of key operations and subsidiaries. The notices state transactions and strategic initiatives but provide no financial terms, timelines, regulatory clearances, or quantitative impact metrics. Readers are left with high‑level corporate actions without supporting details needed to assess immediate financial effect.

AQR Capital Management and affiliated entities report beneficial ownership of warrants representing 460,084 Class A ordinary shares of Generation Essentials Group (f/k/a Black Spade Acquisition II Co), equal to 1.55% of the outstanding class. The position is reported across AQR Capital Management, AQR Capital Management Holdings, and AQR Arbitrage with shared voting and shared dispositive power and no sole voting or dispositive power claimed.

The filing states these warrants are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The reported ownership falls within the category of 5% or less of the class.

Amendment to Schedule 13G for Generation Essentials Group (Class A common stock) reports that a group of Harraden Circle entities and Frederick V. Fortmiller, Jr. collectively disclose beneficial ownership of 562,820 shares, representing 1.93% of the class. The filing lists each reporting person, their relationships, and shows no sole voting or dispositive power—all voting and disposition rights are shared for the reported shares. The filing identifies Harraden Circle Funds, their GP/LLC advisers, and Mr. Fortmiller as managing member, and gives the issuer's principal executive office in Paris. An explanatory note states the Amendment is an exit filing reporting that the Reporting Persons have ceased to be beneficial owners of more than five percent of the issuer's Class A common stock.