Biren Technology (06082.HK): Places 153 Million New H Shares at HK$46.20 Each; Net Proceeds of Approx. HK$7.038 Billion

Shanghai Biren Technology Co., Ltd. (06082.HK) announced that on July 4, 2026, the company entered into a placing agreement with the placing agents, pursuant to which the placing agents agreed to act as the company's agents on a best-efforts basis to procure not fewer than six placees to purchase an aggregate of 153,000,000 new H shares at a placing price of HK$46.20 per H share.

As of the date of this announcement, the placing shares represent approximately 12.74% of the issued H shares and approximately 6.27% of the total issued shares. The placing price of HK$46.20 per share represents a discount of approximately 9.94% to the closing price of HK$51.30 on July 3, 2026 (the last trading day), and a discount of approximately 17.53% to the average closing price of HK$56.02 over the last five consecutive trading days immediately prior to the last trading day. Assuming all placing shares are fully subscribed, the gross proceeds will be approximately HK$7,068.6 million, and the net proceeds (after deducting placing commissions and related expenses) are estimated at approximately HK$7,037.6 million. The net issue price per placing share is approximately HK$46.00.

The placing shares will be allotted and issued under the general mandate granted to the board by shareholders on June 15, 2026, and no shareholder approval is required. The placing is conditional upon, among other things, the approval of the Listing Committee of the Stock Exchange for the listing and trading of the placing shares.

Assuming all placing shares are fully placed, the intended use of net proceeds is as follows: approximately 20% for strengthening new cutting-edge technology R&D projects; approximately 60% for accelerating the commercialization and production of next-generation products; approximately 10% for strategic investments and acquisitions; and approximately 10% for working capital and general corporate purposes.

In addition, the company has undertaken that, except under specific circumstances, it will not without the prior written consent of the placing agents sell, transfer, or dispose of any shares or interests in shares during the period from the date of the placing agreement to 90 days after the closing date.

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