Xinhua Lande Scitech completes HKD 15.82 million H-share private placement at HKD 0.31 per share

Reuters03-11

Xinhua Lande Scitech completes HKD 15.82 million H-share private placement at HKD 0.31 per share

Xinhua Lande Scitech said it completed subscriptions of 52.28 million new H shares under a general mandate at a subscription price of HKD 0.31 per share. The company said net proceeds were approximately HKD 15.82 million. It said 80% of the net proceeds will be used to enhance customer operation capabilities for its smart city solutions business, and 20% will be used for general working capital. The company said the new H shares represent about 10% of total issued share capital before completion and 9% after completion.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Xinhua Lande Scitech Co. Ltd. published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260311-12048066), on March 11, 2026, and is solely responsible for the information contained therein.

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