XUNZHONG (02597.HK): Places 3.55 million new H shares at HKD 29.00

NewTimeSpace · 2026/10/23 08:00 · By Xuran Lin

On 23 October 2026, XUNZHONG (02597.HK) agreed to place 3,550,000 new H shares at HKD 29.00 each, a 14.35% discount, raising net proceeds of HKD 102.32 million.

NewTimeSpace News: On 23 October 2026, Beijing Xunzhong Communication Technology Co., Ltd. (stock code: 02597) entered into a placing agreement to procure, on a best-effort basis, not fewer than six independent placees to subscribe for 3,550,000 new H shares at HKD 29.00 each. The shares represent 2.67% of issued shares excluding treasury shares and 2.60% of the enlarged total, with an aggregate nominal value of RMB 3,550,000.

The price is 14.35% below the 22 October close of HKD 33.86 and 10.58% below the five-day average close of HKD 32.43. Gross and net proceeds are expected at HKD 102.95 million and HKD 102.32 million, or HKD 28.82 net per share. Some 55% (HKD 56.28 million) funds computing equipment, 35% (HKD 35.81 million) platform upgrades for model and agent capabilities, and 10% (HKD 10.23 million) working capital.

XUNZHONG 02597.HK Share Placing