Knowledge Atlas (02513.HK): Proposes Placing of Up to 19.78 Million New H Shares at HK$1,588 Each

Knowledge Atlas Technology Joint Stock Company Limited (Stock Code: 2513) announced that on 9 July 2026 (before trading hours), the company entered into a placing agreement with the sole placing agent, pursuant to which the company appointed the sole placing agent to use its best efforts to procure not fewer than six placees to subscribe for up to 19,780,000 new H shares at a placing price of HK$1,588.00 per placing share. The placing price represents a discount of approximately 12.99% to the closing price of HK$1,825.00 per share on 8 July 2026.

The total number of placing shares is up to 19,780,000 new H shares, representing approximately 4.44% of the 445,843,090 shares in issue as at the date of this announcement and approximately 4.25% of the enlarged issued share capital. Assuming all placing shares are fully placed, the gross proceeds are expected to be approximately HK$31,410.64 million, and the net proceeds (after deducting commissions and estimated expenses) are expected to be approximately HK$31,374.95 million.

The placing shares will be issued under the general mandate, under which the board is authorized to allot, issue and deal with up to 89,168,618 shares, representing 20% of the shares in issue on the date of the annual general meeting held on 22 June 2026. The board has approved the placing under the general mandate, and therefore no further shareholders' approval is required. Subject to the fulfilment or waiver of the conditions, the placing is expected to be completed on 13 July 2026.

The company intends to apply the net proceeds to: (1) research and development investment, including talent cultivation, computing resource deployment, technical service procurement, and supporting self-developed large model training and iteration; (2) accelerating business expansion, strategic investments and mergers and acquisitions; and (3) optimizing capital structure and supplementing daily working capital and other general corporate purposes. The company expects the net proceeds to be fully utilized by the end of 2027.

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