Beijing Xunzhong Communication Technology Co., Ltd. (XUNZHONG) has signed a placing agreement with Winbull Securities International (Hong Kong) to issue 3.55 million new H shares at HK$29.00 each, aiming to raise gross proceeds of approximately HK$102.95 million and net proceeds of about HK$102.32 million after fees and expenses.
The offer price represents a 14.35% discount to XUNZHONG’s HK$33.86 closing price on 22 October 2026 and a 10.58% discount to the five-day average of HK$32.43. The shares equate to 2.67% of the current issued share capital and will dilute existing shareholders to 2.60% of the enlarged total of 136.49 million shares.
Proceeds allocation: • 55.00% (HK$56.28 million) for upgrading inference computing power—primarily acquiring 8-GPU servers, storage, and ancillary facilities to support the company’s Model-as-a-Service (MaaS) system. • 35.00% (HK$35.81 million) for integrating model and agent capabilities into XUNZHONG’s cloud communication PaaS platform and SaaS products, including construction of a MaaS platform, unified computing-power scheduling, AI-native upgrades of PaaS/SaaS offerings, and enhanced security and deployment flexibility. • 10.00% (HK$10.23 million) for working capital and general corporate purposes.
The shares will be issued under the existing general mandate, of which 54.05% (13.16 million shares) remains unused after a prior September 2026 placement that raised HK$313.64 million. At least six independent investors will take part; none will become a substantial shareholder.
Key terms include a 30-day issuer lock-up and standard completion conditions such as Stock Exchange listing approval and no material adverse change. Completion is targeted within five business days of signing but may not proceed if conditions are unmet.
Post-placement, XUNZHONG’s public H-share float will rise from 31.31% to 33.10%. Core connected persons will hold 20.81% of the enlarged share capital, and the company’s registered capital will increase to RMB136.49 million.
XUNZHONG plans to deploy the funds within 12 months, positioning its upgraded MaaS-enabled platforms to meet growing enterprise demand for AI-driven customer communications, large-scale inference, and agent solutions.
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