NUOBIKAN (02635.HK): Placement Supplement; Proceeds for Industrial AI O&M R&D and Acquisitions

NewTimeSpace News: On 8 October 2026, Nuobikan Artificial Intelligence Technology (Chengdu) Co., Ltd. (the "Company") published a supplemental announcement in respect of its announcement dated 29 September 2026 on the placing of new shares under a general mandate, supplementing information on the reasons for and benefits of the placing. The Company noted that industrial AI is currently transitioning from the technical validation stage to large-scale deployment; pursuant to the Implementation Opinions on the Special Action for "AI + Manufacturing" issued by the National Development and Reform Commission and seven other government departments, China will continue to deepen the integration of AI with industry and manufacturing, aiming to launch 1,000 high-level industrial AI agents by 2027. The Company believes demand for AI operations and maintenance in large infrastructure industries will be rapidly unleashed, that the current period is a critical stage for capturing market share, and that reserving funds and resources in advance to seize such opportunities is appropriate.

The announcement disclosed that, on unused proceeds from the global offering, as of 31 August 2026: continued research on core technologies, HK$26.94 million unused (utilisation 71.21%, expected to be used by 31 December 2027); construction of R&D facilities and headquarters building, 49.16 million (52.26%, by 31 December 2027); potential investment and acquisition opportunities, 13.02 million (49.41%, by 31 December 2026); and general corporate purposes, 5.17 million (79.91%, by 31 December 2026).

The Company stated that there are differences between the uses of the IPO proceeds and the placing proceeds: the portion of IPO proceeds allocated to R&D focuses on continuously enhancing and refining existing models, core technologies and hardware capabilities (the "existing R&D use"), such as iteration and upgrading of existing AI industry models, optimisation of the underlying technology of its proprietary core technology platform NBK-INTARI, and hardware development and testing environment construction; whereas the portion of the placing proceeds allocated to R&D will be used for research and development of core AI operations and maintenance technologies for large infrastructure industries (the "new R&D use"), covering the full spectrum of rail transit, large equipment for petrochemical exploration, extraction and refining, and civil aviation airport runways, aprons and terminals, focusing on building AI agent platforms and providing model-as-a-service (MaaS), computing infrastructure and data system upgrades. On strategic acquisitions, the placing proceeds will be used for acquisitions in the fields of "basic computing power" (companies engaged in AI chips, computing servers and computing scheduling systems) and "AI models" (companies with industry-specific pre-trained large models and proprietary model algorithms), forming a full-stack layout spanning the upstream and downstream of the AI industry together with the IPO's original acquisition targets; together with approximately HKD 13.02 million of the IPO proceeds still unused, a total of approximately HKD 39.31 million will be available for strategic acquisitions.

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