On January 29, 2026 (before the trading session), the company entered into a placement agreement with a placing agent, whereby the company agreed to appoint the agent, who, in turn, agreed to act individually as the company's representative, using its best efforts to procure placees to subscribe for a total of 21.888 million new shares at the placing price of HK$32.50 per share, based on and subject to the terms of the placement agreement. The placing price was set at HK$32.50 per share, representing a discount of approximately 11.88% compared to the closing price of HK$36.88 per share on the Hong Kong Stock Exchange on January 28, 2026, the last trading day immediately preceding the date of the placement agreement. The number of placement shares accounts for: (a) approximately 7.92% of the total number of existing issued shares as of the date of this announcement; and (b) approximately 7.34% of the total number of issued shares, as enlarged by the issuance of the placement shares immediately following completion (assuming all placement shares are fully subscribed, and with no change in the total number of issued shares from the date of this announcement until completion, except for the issuance of the placement shares by the company). Assuming all placement shares are fully subscribed, the gross proceeds from the placement are expected to amount to approximately HK$711 million in total. The net proceeds from the placement are anticipated to be approximately HK$673 million (calculated on the basis of a net price of approximately HK$30.77 per placement share).
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