Jiangsu Horizon Chain Supermarket Company Limited (Stock Code: 2625) published a supplemental announcement regarding the planned use of proceeds from its placing of new H shares under general mandate. The total net proceeds, estimated at approximately HK$58.65 million, are designated for capital injection into Haike Hongxin, aiming to support research and development, production, operation management, and marketing of coffee robots, catering robots, unmanned supermarket robots, and related technologies.
The announcement notes that Jiangsu Horizon Chain Supermarket has already invested RMB25 million in Haike Hongxin, representing an 18% equity interest. Ongoing discussions indicate the company’s desire to raise its stake, targeting a controlling shareholding of more than 51%. The final percentage will depend on the ultimate investment amount and subsequent negotiations.
According to the announcement, funding allocations for the project are expected to be around 20% for equipment R&D and software development, about 50% for production and procurement, and roughly 30% for operation management and marketing. Jiangsu Horizon Chain Supermarket highlights that these new technologies will enhance its core retail business by integrating advanced robotics solutions and data analytics for automated operations, potentially creating fresh revenue drivers.
The placing remains contingent on conditions precedent set out in the Placing Agreement. The company has confirmed that any further investments in Haike Hongxin may constitute notifiable transactions under Chapter 14 of the Listing Rules and will adhere to relevant regulations. All other details from the original announcement remain unchanged.
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