According to the Zhitong Finance App, Hang Fu Holdings (00643) announced that on July 14, 2026, the Company entered into a placement agreement with the placement agent. The placement agent has agreed to place up to 179.7 million new shares to independent undertakers on the basis of dedicated efforts at a price of HK$0.1650 per share.

The maximum number of shares to be placed was 179.7 million shares, which is equivalent to approximately 20.00% of the total issued share capital of the Company of 899.8 million shares as of the date of this announcement, and approximately 16.67% of the total issued share capital of the Company as a result of the expansion of placement matters. The net proceeds from the placement process are approximately HK$29 million (assuming the placement shares are confirmed and after deducting all related expenses) will be used to expand the subcontract network and production capacity; establish a joint venture for the “AIPHACAS” platform; and general working capital.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.