ZHIDA TECH (02650.HK): Places 23.67 Million New H Shares at HK$ 8.77

NewTimeSpace News: On 23 September 2026, Shanghai Zhida Technology Development Co., Ltd. (stock code: 02650.HK) announced that it entered into a placing agreement with the placing agents before trading hours the same day, under which the placing agents will procure, on a best effort basis, not less than six placees to subscribe for up to 23,670,550 new H Shares at HK$ 8.77 per placing share. The placing shares will be allotted and issued under the general mandate granted to the Board at the annual general meeting and do not require further shareholders' approval.

Assuming the placing shares are fully placed, the gross and net proceeds are expected to be approximately HK$ 207.59 million and HK$ 203.44 million respectively, with a net placing price of approximately HK$ 8.59 per placing share. The net proceeds will be applied as to 20% (approximately HK$ 40.69 million) for construction of and purchase of equipment for new production facilities for energy management services, 30% (approximately HK$ 61.03 million) for acquiring businesses related to public charging infrastructure, 30% (approximately HK$ 61.03 million) for investing in businesses engaged in the upstream and downstream of robotics products manufacturing, and 20% (approximately HK$ 40.69 million) for general working capital.

The placing shares represent approximately 7.44% of the total issued H Shares as at the date of the announcement and approximately 6.93% of the enlarged total upon completion. The placing price represents a discount of approximately 17.11% to the closing price of HK$ 10.58 per H Share on the last trading day, 22 September 2026. On a fully placed basis, the total issued H Shares will increase from 318,069,685 to 341,740,235, and the interest of Dr. Huang Zhiming and his controlled entities will change from approximately 40.35% to approximately 37.56%. China Industrial Securities International Capital Limited acts as the sole overall coordinator and one of the placing agents, with Leading Securities Company Limited, Skyvast Securities Limited and Somerley Capital Limited as placing agents.

Completion of the placing is subject to the satisfaction of the conditions set out in the placing agreement and may or may not take place. Since listing its H Shares on 10 October 2025, the Company has completed one equity fund raising: the placing of 19,125,650 new H Shares at HK$ 10.98 per H Share in June 2026, raising net proceeds of approximately HK$ 205.78 million.

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