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The document is associated with its merger agreement with the special purpose acquisition company Spring Valley Acquisition Corp III, marking a substantial step towards the company's goal of going public. The submission of the F-4 form is a core legal procedure prior to the completion of the business combination transaction, and the document discloses key information such as the company structure, equity allocation, and financial data of the merger plan in detail. Listing through the SPAC route will provide this nuclear fusion technology company with a broader capital platform and accelerate the development process of its commercial energy solutions.

The repurchase authorization will officially take effect on February 28, 2026. This decision reflects the management's confidence in the company's business prospects and financial condition. Through the repurchase of common shares, the company aims to optimize its capital structure and enhance shareholder value. The implementation of the repurchase plan will be advanced flexibly based on market conditions, share price levels, and regulatory requirements. The company stated that the repurchase may be conducted through open market transactions, privately negotiated transactions, or other methods permitted by law, and may be suspended or terminated as circumstances require. Excel Service Holdings emphasized that it will continue to focus on balancing business investment and shareholder returns, driving long-term sustainable growth.

According to the latest guidance, the company expects fiscal year 2026 revenue to rise to the range of $1.185 billion to $1.23 billion, with adjusted EBITDA projected to reach $315 million to $340 million. This outlook reflects Trex’s clear path to profit growth driven by product innovation and market expansion strategies. As a benchmark enterprise in outdoor living space solutions, the company is strengthening its competitive advantage through vertically integrated operations and sustainability initiatives. Notably, this guidance indicates a significant leap in revenue scale over the next four years, while maintaining a robust adjusted EBITDA margin of 26.7% to 27.6%. Driven by both supply chain optimization and capacity enhancement, Trex is expected to continue expanding its leadership in the composite decking market. Management emphasized that this target is based on an in-depth assessment of key trends such as sustained growth in residential remodeling demand and the accelerated implementation of commercial projects.