China Information Technology (08178) completed placement of 14 million shares to raise approximately HK$3.82 million

Zhitong Finance App News, China Information Technology (08178) issued an announcement. All conditions set out in the placement agreement have been met, and the placement matters have been completed on December 5, 2025. The placement agent has successfully placed a total of 14 million shares to no less than six undertakers at the placement price of HK$0.28 per share in accordance with the terms and conditions of the placement agreement.

The 14 million placed shares are equivalent to approximately 13.90% of the Company's current issued share capital immediately prior to completion of this announcement and approximately 12.20% of the Company's issued share capital expanded through allotment and issuance of placed shares.

The total proceeds from the placement will be HK$3.92 million, while the net proceeds from the placement (after deducting the placement commission and other related expenses) will be approximately HK$3.82 million. The Company intends to use the net proceeds from the placement to repay maturing debts; and the Group's general working capital.