TIME INTERCON Raises HK$2.88 Billion Through 6.19% Share Placement, Expands Public Float to 37.14%

Bulletin Express05-19

Time Interconnect Technology Limited (abbreviated as TIME INTERCON) has completed the placing of 138.10 million new shares under its general mandate at HK$21.00 per share. All conditions under the Placing Agreement were fulfilled on 19 May 2026.

The newly issued shares accounted for 6.60% of the company’s issued share capital immediately before completion and 6.19% after enlargement. Net proceeds totalled HK$2.88 billion, translating into a net issue price of HK$20.89 per share.

Deployment of funds: • 50% (HK$1.44 billion) earmarked for global business development and overseas expansion by 31 December 2027. • 20% (HK$576.90 million) allocated to balance-sheet strengthening, including bank-debt repayment, targeted for full use by 31 December 2026. • 20% (HK$576.90 million) reserved for strategic investments and acquisitions, to be utilised by 31 December 2027. • 10% (HK$288.40 million) set aside for working capital and general corporate purposes—including raw-material procurement, production and overhead costs—by 31 December 2026.

Shareholding impact: • Controlling shareholder Luxshare Precision Limited’s stake decreased from 65.95% to 61.87%. • Public shareholders’ aggregate interest rose from 33.00% to 37.14%, with the six or more placees collectively holding 6.19%. • No placee became a substantial shareholder upon completion.

TIME INTERCON will monitor the application of proceeds and disclose any material changes in line with Hong Kong Listing Rules.

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