Kexuan Power Holdings (00476) completed the placement of a total of 20 million shares to raise about HK$15.4 million

Zhitong Finance App News, Kexuan Power Holdings (00476) issued an announcement. All the prerequisites contained in the placement agreement have been met, and the placement matters were completed on December 1, 2025 in accordance with the terms and conditions of the placement agreement. A total of 20 million placed shares (equivalent to approximately 6.31% of the Company's issued share capital expanded by allocating and issuing placed shares immediately after completion of the placement matters on the date of this announcement) have been placed to no less than six undertakers at the placement price of HK$0.78 per share.

The net proceeds from the placement (after deducting commissions payable to the placing agent and other expenses arising from the placement) were approximately HK$15.4 million. The Company intends to use the net proceeds from the placement for the Group's general working capital. The company plans to use the net proceeds from the placement: approximately HK$12 million to develop and expand the Group's new energy business, particularly the electric commercial solutions business; and approximately HK$3.4 million to supplement the Group's general working capital.