Yongda Motor (03669) plans to issue 73.1599 million subscription shares to Hongxin International Shipping to raise about HK$60.3569 million to implement intelligent commercial applications

According to Zhitong Finance App, Yongda Auto (03669) announced that on July 15, 2026, the company signed a subscription agreement with Hongxin International Shipping. Hongxin International Shipping plans to subscribe to the company for a total of 73.1599 million subscription shares at a subscription price of HK$0.825 per share, accounting for about 3.85% of the company's issued share capital after allotting and issuing subscription shares expanded. The net proceeds receivable from the company based on subscription matters are estimated to be approximately HK$60.356,900, all of which are intended to be used for the initial layout of intelligent commercial applications.

The Group is a leading sales and service agent for luxury vehicles and new energy vehicles. The Group plans to make full use of its customers, scenarios, project operation and service capabilities, develop strategic cooperation with Hongxin Electronics, an affiliate of Hongxin International Shipping, and jointly lay out an intelligent commercial application service industry. This phase invests in building two basic capabilities: computing power supply and operation, data collection, and service. The directors believe that the company and subscribers can generate long-term strategic collaboration in terms of related capital, business and other resources, can support the Group's continuous development and business growth, and conforms to the overall interests of the company and its shareholders. In addition, Hongxin International Shipping is also interested in further increasing the company's shares in the secondary market.