From Yu Zhinong (00875), it is proposed to place a maximum of 140 million shares at a discount of about 18.64% to raise about HK$32.9 million net

According to Zhitong Finance App, an announcement was issued from Yu Zhinong (00875). On August 17, 2026 (after the trading period on the Stock Exchange), the Company entered into a placement agreement with the placement agent. According to this, the Company has agreed to place a maximum of 140 million shares through the placement agent to place at least HK$0.24 per share at the placement price of HK$0.24 per share (they and their ultimate beneficial owners must be independent third parties). Placed shares will be allocated and issued in accordance with a general mandate granted to the directors at the annual general meeting of shareholders. Shareholders' approval is not required for allotment and issuance of shares for sale.

Placed shares are equivalent to (i) approximately 20% of the total number of issued shares currently issued at the date of this announcement; and (ii) approximately 16.7% of the total number of issued shares after all allotted and extended issuance of the placed shares, assuming that there is no change in the issued share capital of the Company between the date of this announcement and the date of completion of the placement matters. The total face value of the maximum number of shares to be placed under the placement items will be HK$1,3981 million.

The placement price was HK$0.24 per share, a discount of approximately 18.64% from the closing price of HK$0.295 per share reported on the Stock Exchange on the date of the placement agreement.

Assuming that all of the placed shares are successfully placed by the placement agent, the maximum amount of proceeds from the placement is estimated to be approximately HK$33.6 million, while after deducting placement commissions, professional fees and all related expenses the Company may bear, the maximum net proceeds from the placement are estimated to be approximately HK$32.9 million. The Company intends to use the net proceeds from the placement of approximately HK$30 million for loan repayment; and approximately HK$2.9 million (for the Group's general working capital.