On November 25, 2025, Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd. (Stock Code: 02582) announced a placing agreement with Great Bay Securities Limited. Under this agreement, Great Bay Securities will place, on a best efforts basis, up to 4,858,350 new H shares at HK$41.166 per share.
The maximum total gross proceeds are approximately HK$200 million, with estimated net proceeds of about HK$196.98 million. The new H shares would represent around 5.40% of the existing issued H shares and 4.22% of the total issued share capital of the company as of the date of the announcement. Upon completion, they will rank pari passu with other H shares then in issue.
According to the announcement, around 60% of the net proceeds are earmarked for investments and cooperation in hydrogen projects both in the PRC and overseas, while roughly 40% will be allocated to working capital and general corporate purposes. The completion of this placing remains subject to regulatory approval and other customary conditions.
