Movement Alert|ZHIDA TECH Rises 8.7% in Regular Trading, Announces Placement of 23.67 Million New H Shares to Raise Approx. HK$203 Million

Market Focus09:37

On September 23, ZHIDA TECH rose 8.7% in regular trading, trading at HK$11.53/share with turnover of HK$75.37 million.

On the news front, the company announced a placement agreement to issue up to 23,670,550 new H shares at HK$8.77 per share, representing approximately 7.44% of existing issued H shares. Gross proceeds are estimated at approximately HK$208 million, with net proceeds of around HK$203 million. The placement will be conducted under the general mandate granted at the annual general meeting in April.

The capital raise comes amid strong recent momentum. The company's German subsidiary ZD ENERGY GmbH has officially established its factory, set to begin production in early next year to manufacture energy storage and charging systems for a well-known German automaker. First-half interim results showed overseas revenue reaching RMB 101 million, up 73.2% year-on-year, with the overseas revenue share jumping from 14.8% to 29.7%. Overseas charger sales surged approximately 110.5% to a record high, with Thailand, Brazil, and the UAE contributing about 82.6% of overseas revenue.

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